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§ Private Profile · 1601 Las Plumas Ave, San Jose, CA 95133
Therma is a technology company.
Therma builds a cooling intelligence platform comprising IoT sensors, integrated software, and equipment controls to optimize refrigeration systems. This technology offers AI-powered monitoring capabilities, proactively detecting equipment malfunctions and inefficiencies within the cold chain. By providing real-time data and alerts, Therma’s solution helps businesses maintain optimal storage conditions, reduce energy consumption, and significantly mitigate food spoilage and waste.
The company was co-founded by Manik Suri, who also serves as CEO, and Aaron Cohen. Their shared insight stemmed from a recognition of the significant environmental and economic impact of inefficiencies in the global cold chain. They envisioned a solution that could not only protect perishable goods and human health but also contribute to a more sustainable planet by addressing food loss and carbon emissions.
Therma’s platform serves a diverse clientele across the food service, restaurant, healthcare, hospitality, and manufacturing sectors. The company’s overarching vision is to advance smart cold chain access globally, transforming how organizations manage their refrigeration assets. By enhancing operational efficiency and preventing costly product losses, Therma aims to foster a more resilient and environmentally responsible cold chain infrastructure for the future.
Therma has raised $29.2M across 2 funding rounds.
Therma has raised $29.2M in total across 2 funding rounds.
Therma is a mission-driven technology startup developing hardware and software tools to reduce food waste and combat climate change. It serves organizations in the food, restaurant, healthcare, hospitality, and manufacturing industries, including government agencies, major corporations, small businesses, and nonprofits, by providing solutions that monitor and optimize refrigeration to prevent spoilage.[2] Founded by alumni from Harvard, Columbia, and UC Santa Barbara with expertise in legal compliance, software engineering, and operations management, Therma has gained backing from venture capitalists tied to firms like D.E. Shaw, Deciens, Govtech Fund, Impact Engine, Social Capital, and Stage Venture Partners, signaling strong growth momentum in the sustainability tech space.[2]
Therma was founded by a team of food industry professionals and engineers passionate about addressing climate change through practical technology. The founders, alums from Harvard, Columbia, and UC Santa Barbara, drew on decades of combined experience in legal compliance, software engineering, and operations management to identify inefficiencies in food storage and refrigeration.[2] The idea emerged from recognizing refrigeration as a major contributor to global food waste and emissions, leading to hardware-software tools tailored for high-impact sectors; early traction came via partnerships with leading organizations and venture support, humanizing their mission to protect the planet.[2]
Therma rides the wave of climate tech and sustainability, capitalizing on rising regulatory pressures and corporate net-zero commitments in food supply chains. Timing is ideal amid global food waste accounting for 8-10% of emissions, with market forces like EU sustainability directives and U.S. investor shifts toward impact driving demand.[2] It influences the ecosystem by enabling small businesses and nonprofits to access enterprise-grade tools, accelerating adoption of IoT for decarbonization and fostering a network effect through VC-backed scaling.[2]
Therma is poised for expansion as AI-enhanced monitoring and edge computing refine its platform, potentially capturing larger shares in healthcare and manufacturing. Trends like stricter emissions reporting and food security investments will propel growth, evolving its influence from niche startup to ecosystem leader in waste-reduction tech. This positions Therma as a key player in planetary protection, building on its tech foundation to deliver scalable climate wins.
Therma has raised $29.2M in total across 2 funding rounds.
Therma's investors include John Kwaak, Ananta Capital, Oliver Libby, Collaborative Fund, Daniel Kimerling, Govtech Fund, Homecoming Capital, Kindergarten Ventures, Deciens Capital, Active Impact Investments, G-Bar Ventures, Rite-Hite.
Therma has raised $29.2M across 2 funding rounds. Most recently, it raised $19.0M Series A in February 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 7, 2023 | $19M Series A | John Kwaak | Ananta Capital, Oliver Libby, Collaborative Fund, Daniel Kimerling, Govtech Fund, Homecoming Capital, Kindergarten Ventures | Announced |
| Mar 2, 2021 | $10.2M Venture Round | Deciens Capital | Active Impact Investments, Collaborative Fund, G BAR Ventures, Govtech Fund, Rite Hite | Announced |