The round was led by Nadel and Gussman Ventures, with participation from D3 Jubilee Partners and several other investors. The company plans to use the funds to scale deployments of its technology, which can cool objects with no input energy, using the cool temperatures of earth's upper atmosphere.
Along with the funding announcement, SkyCool also announced the appointment of Arjun Saroya as its new CEO. Saroya has over 20 years of experience in the clean energy sector, and he will be responsible for leading the company's growth and commercialization efforts. Eli Goldstein, the co-founder of SkyCool, will assume the role of CTO, and Aaswath Raman, the company's co-founder and former CEO, will continue to lead its Technical Advisory Board.
SkyCool offers two products: a panel-based cooling product that improves the efficiency of refrigeration and air conditioning systems, and a direct film product that passively cools buildings, shade structures, and transportation systems. Both products use radiative cooling technology, which sends heat to the cold sky and reduces the temperature of any surface to which it's applied.
