# Kelvin Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/kelvin-systems

- Industry: Heating, Cooling & Ventilation Equipment and Services
- Headquarters: New York, US
- Website: www.kel.vin
- Total disclosed funding: $9.7M
- Latest round: Series A (Apr 19, 2023)
- Investors on record: 7

## About

Radiator Labs, Inc. is a technology company based in the US that enhances heating efficiency in older buildings through innovative solutions aiming to reduce energy waste and improve thermal comfort.Founded in 2011 and headquartered in New York, US, Radiator Labs, Inc. focuses on developing solutions for heating efficiency. The company has engaged in a strategic evolution to integrate advanced technologies in legacy heating systems. Marshall Cox, who has a background in energy solutions, is the founder and currently serves as CEO. The firm raised USD 8.9 mn in Series A funding on April 19, 2023, led by investor 2150, with participation from the Partnership Fund for New York City and the Schmidt Family Foundation, bringing the total amount raised to USD 8.9 mn and a current valuation of USD 24.02 mn.Radiator Labs specializes in improving heating efficiency in legacy buildings through its innovative products, primarily the Cozy, a thermostatic radiator enclosure that enhances heat distribution and minimizes thermal waste in steam radiator systems. Their offerings also include a hybrid electrification platform that integrates heat pumps and thermal batteries, aimed at urban property owners and managers focused on sustainability and energy management.Radiator Labs generates revenue through direct sales and partnerships, selling its proprietary products like the Cozy to property owners and managers. Their business model relies on long-term contracts, allowing for energy savings while complying with local sustainability regulations. This structure fosters enduring relationships with clients, providing operational savings over time through both individual unit sales and bulk contracts for larger properties.With the recent funding of USD 8.9 mn from the Series A round, Radiator Labs aims to hire additional staff and launch its Heating, Ventilation, and Air-Conditioning platform. The company is targeting expansion into new urban markets, enhancing its product lineup to meet the growing demands for efficient heating solutions by the end of 2024.

## Funding rounds

- Series A, Apr 19, 2023, $8.9M — Partnership Fund for New York City, Schmidt Family Foundation, 2150
- Seed, Oct 4, 2018 — MetaProp
- Seed, Aug 20, 2015, $0.3M — Third Sphere, 1776
- Seed, Mar 15, 2015, $0.3M — MetaProp
- Seed, Jul 1, 2013, $0M — Dorm Room Fund
- Seed, May 1, 2012, $0.2M — Dorm Room Fund

## Investors

- Dorm Room Fund (https://capitalatlas.ai/funds/dorm-room-fund) — Seed
- MetaProp (https://capitalatlas.ai/funds/metaprop) — Seed
- Third Sphere (https://capitalatlas.ai/funds/third-sphere) — Seed
- 1776 (https://capitalatlas.ai/funds/1776) — Seed
- Partnership Fund for New York City (https://capitalatlas.ai/funds/partnership-fund-for-new-york-city) — Series A
- Schmidt Family Foundation — Series A
- 2150 (https://capitalatlas.ai/funds/2150) — Series A