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Transaera, a technology innovator based in Somerville, MA, is advancing its mission to transform cooling and dehumidification with a highly energy-efficient solution. Recently, it secured a total of $10.5 million in funding. This fresh capital infusion includes $8.2 million from a Seed-2 funding round and an additional $2.3 million in non-dilutive grants awarded by the U.S. Department of Energy.
Clean Energy Ventures led this Seed-2 round, joined by Energy Impact Partners, a familiar supporter, and MassMutual Ventures, a new investor aligned with Transaera’s sustainable vision.
With this financial boost, Transaera is poised to accelerate its journey from pilot phases to widespread commercial deployment, scaling up its manufacturing capabilities to meet anticipated demand.
The company plans to utilize these funds to transition from pilot projects to commercial deployments and to scale its manufacturing efforts. Transaera's innovative technology employs solid desiccants to adsorb moisture, enhancing cooling efficiency even in extreme heat and humidity. By repurposing waste heat generated during the cooling process to remove humidity from the air, their systems can achieve a 40% reduction in overall energy consumption and nearly double system efficiencies.
This funding round follows a $4.5 million seed round in September 2022, led by Energy Impact Partners, with participation from Carrier Ventures, Saint Gobain, and the Massachusetts Clean Energy Center.
Transaera's technology has also been recognized as one of eight finalists in the Global Cooling Prize, an international competition to develop super-efficient and climate-friendly residential cooling solutions.
With the latest funding, Transaera is well-positioned to meet the growing demand for sustainable cooling solutions, addressing the increasing global need for air conditioning while mitigating environmental impact.
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