SPACECOOL Inc. is pleased to announce the successful completion of its pre-series A and Series A funding rounds, securing a total of 900 million yen. The new investment includes contributions from Mirai Creation III Fund, managed by Sparx Asset Management Co., Ltd., and Mitsui Sumitomo Insurance Capital Co., Ltd., both of which join the company’s roster of investors.
SPACECOOL makes and sells innovative radiative cooling materials. They enable zero-energy cooling by releasing heat into space. This technology works by converting heat into infrared radiation and releasing it into the atmosphere, even under direct sunlight. The company’s flagship product has the potential to address outdoor heat issues, particularly in facilities impacted by global warming, such as buildings and outdoor equipment. These materials, called “Smart Surfaces,” are applied to surfaces. They reduce the need for cooling energy. This helps to create a carbon-neutral future.
In the pre-series A round, the company raised funds from existing investors WiL and Osaka Gas Co., Ltd. It also secured new investment from Mitsubishi HC Capital Co., Ltd. through J-KISS-type stock acquisition rights. The Series A round saw a third-party allotment of new shares to Mirai Creation Fund No. 3 and Mitsui Sumitomo Insurance Capital, helping SPACECOOL reach the 900 million yen total.
The raised capital will fund SPACECOOL’s global expansion, R&D, and infrastructure.
