Gradient AC unit wins $18m funding
2nd February 2023
USA: Gradient, the San-Francisco-based company producing a quiet and efficient alternative to the conventional window AC unit, has received $18m in Series A financing.
Last year, Gradient was selected by the New York City Housing Authority, New York Power Authority, and New York State Energy Research and Development Authority as a winner of the Clean Heat for All Challenge, giving the company an opportunity to accelerate their vision to transform every home to be more comfortable and healthy without compromising the environment.
It also won a seven-year contract for the development and delivery of thousands of cold climate packaged window heat pump units.
The saddle-mount air conditioner is designed so that it does not block the window. A plug-and play-unit, it can be installed by the layman in about 15 minutes, providing the benefits of a heat pump at a fraction of the cost of a split system.
The $18m Series A funding was co-led by Sustainable Future Ventures and Ajax Strategies with participation by Safar Partners, Climate Tech Circle, Shared Future Fund, At One, Impact Science, and others.
“We are reimagining the HVAC industry by building products that keep homes comfortable and healthy for the people who inhabit them, without compromising the environment,” said Gradient co-founder and CEO Vince Romanin. “Support from Sustainable Future Ventures will enable us to expand our operations, build new products, and achieve a 95% carbon reduction when our products are used to both heat and cool.”
Related stories:
Gradient rethinks the window air conditioner – 25 July 2021
USA: A San-Francisco-based start-up company has developed a quiet and efficient heat pump air conditioner to replace the conventional window AC unit without actually blocking the window. Read more…
