The oversubscribed round was led by Zero Infinity Partners, with participation from Deciens Capital, CityRock Venture Partners, Homecoming Capital, Ananta Capital, Kindergarten Ventures, Collaborative Fund, and Govtech Fund. Therma will deploy the funding to become a scalable electric grid partner by dynamically lowering energy demand from cooling assets while saving customers money on utility bills.

Cooling, which includes refrigeration and HVAC, is the least understood major driver of climate change. Therma Cooling Intelligence Platform uses artificial intelligence, IoT sensors, and equipment controls to reduce energy usage, prevent food waste, and reduce carbon emissions.