US-based solid-state heating and cooling technology provider Tempronics completed a $9.5m series C round on Tuesday backed by car seating and electrical system manufacturer Lear Corporation.
The round included Nth Power, Desert Angels and undisclosed individual investors and members of Tempronics’ management team. Venture capital firm Nth Power led a $2.7m round for Tempronics in 2010 as part of $4.6m the company raised between 2008 and 2010.
Founded in 2006, Tempronics is working on thermoelectric technology capable of cooling, heating and generating electricity, increasing comfort in consumer products like beds or seats while using less energy.
Lear took part in the round as part of a strategic partnership that will involve the companies teaming up to develop thermal comfort technology for the automotive seating market.
– Image courtesy of Tempronics Corporation