SAN FRANCISCO, March 2, 2021 /PRNewswire/ -- Therma, an IoT-powered equipment monitoring and analytics platform, announced today the close of a $10.2M funding round led by Deciens Capital with participation from G-Bar Ventures, Collaborative Fund, Rite Hite, Govtech Fund, and Active Impact Investments. The new funding helps Therma scale its mission to combat climate change by eliminating food waste, energy inefficiency, and refrigerant emissions across the $1 trillion global refrigeration cold-chain.
Food waste is a significant contributor to climate change, with over $1.61 billion dollars of food being tossed each year, as is energy consumption, with 58% being wasted, and refrigerant emissions, a potent greenhouse gas. By 2050, Therma estimates it could reduce emissions by 3.4 billion Metric Tons of CO2, making Therma one of the most potentially impactful climate solutions of our time. The annual climate impact of Therma in each installed location (e.g. a single restaurant or convenience store) is significant, preventing 1.07 metric tons of CO2 emissions equivalent, or $5,940 of food waste, per location.
"This represents a major step forward in the evolution of the 150-year-old cold-chain," explains Manik Suri, Founder and CEO of Therma. "Food and beverage, healthcare, hospitality and manufacturing are all critically dependent on the refrigeration cold chain. Over the last year, we have seen a significant increase in demand across these industries for real-time equipment monitoring and analytics that not only reduce costs and improve safety, but also positively impacts climate change."
Therma is the creator of Point 01, a climate-oriented community-building initiative that brings together like-minded entrepreneurs, investors, scientists, engineers, and other professionals to devise solutions that inextricably link profitability and sustainability. Combined, these groups work together towards a common goal of sustaining human modernity. The Point 01 podcast, hosted by Therma's co-founder, Aaron Cohen, spotlights experts working on solving the climate crisis and is available on iTunes, Spotify, and Google.
For further information, please visit: www.hellotherma.com
Therma° is combating climate change by building the smart cold chain. IoT-powered temperature monitoring and analytics prevent food, product, and energy waste - leading drivers of climate change. Therma° has partnered with national restaurant brands and supply chain leaders in food and healthcare to increase profits while protecting our planet. To learn more, visit www.hellotherma.com or follow on Twitter, Facebook, and LinkedIn: @HelloTherma.
JMG Public Relations