Transaera, a Somerville, MA-based technology company providing an energy-efficient approach to cooling and dehumidification, raised $10.5M in funding.
The round consisted of $8.2M in seed funding augmented by an additional $2.3M in non-dilutive grant funding from the U.S. Department of Energy. The Seed-2 round was led by Clean Energy Ventures, with participation from returning investor Energy Impact Partners, and new investor MassMutual Ventures.
The company intends to use the funds to transition from pilots to commercial deployments and scale manufacturing efforts.
Led by CEO Sorin Grama, Transaera has developed a platform technology based on solid desiccants, which adsorb moisture to provide more efficient cooling, even in extreme heat and humidity. Its systems use heat generated by the cooling process, which typically goes to waste, to remove humidity from the air. The technology enables a 40% reduction in overall energy consumption, while nearly doubling system efficiencies.