Coolerado designs, manufactures and sells patented, energy-efficient air conditioning systems for residential and light commercial applications. Its units do not recirculate air and avoid chemical refrigerants and compressors, instead relying on thermodynamics and water for cooling. The company says its systems can reduce air-conditioning electricity costs by up to 90%, and some units can run on solar power. Coolerado has sold its technology to customers in 21 countries and runs its website on solar-powered data centers cooled by its own units. Financially, Coolerado has closed a $7.2 million investment and is targeting an additional $4.1 million to complete the round. NewWorld Capital also appointed three directors to the company’s five-person board as part of the financing.

Total raised

$7M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2010