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SpinLab alumni Magnotherm closed its seed funding round with 6.3 Mio. €

By Linh Pham on Apr 4, 2023 5:20:55 PM

The German climate tech startup MAGNOTHERM, working on sustainable refrigeration technology, has just closed its seed funding round with an impressive €6.3 million. Funds will be used for the mass production of the world's first sustainable refrigerator, which already has a paying customer base. Extantia Capital led the round, with Hessen Kapital, Lauda Dr. R. WOBSER Beteiligungs-GmbH, and Revent also investing, along with four investors from the Better Ventures Angel Club. They're now planning to expand into the commercial refrigeration market, which is worth $37 billion.

Topics: News Venture Capital