# Magneto

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/magneto

- Industry: Heating, Cooling & Ventilation Equipment and Services
- Headquarters: Delft, Netherlands
- Website: www.magneto.systems
- Total disclosed funding: $1M
- Latest round: Seed (Jul 7, 2022)
- Investors on record: 4

## About

Based in Delft, Netherlands, and founded in 2020, Magneto B.V. is a spin-off from Delft University of Technology that provides alternative cooling and heating systems used in heat pump refrigeration systems. In July 2022, Magneto B.V. raised EUR 1 million in Seed funding from Graduate Entrepreneur, Rabobank Group, SHIFT Invest, and UNIIQ. The company employs 4 FTEs.

The company develops magnetocaloric heat pumps for heating and cooling, where the technology replaces greenhouse gases used in existing gas compression technologies and advances the goal of a world with zero emissions and low-temperature waste heat to power conversion that uses magnetocaloric materials to make thermomagnetic motors (TMM) a practical technology, enabling the generation of emission-free electricity from waste heat. The firm offers patented materials and processes, including MCMs optimized for waste heat to power conversion and advanced shapes using 3D techniques.

The organization plans to use the July 2022 funding to develop a collection of magneto-caloric materials that will make it possible to create the first working cooling systems.

## Funding rounds

- Seed, Jul 7, 2022, $1M — Rabobank, SHIFT Invest, UNIIQ, Graduate Entrepreneur

## Investors

- Rabobank — Seed
- SHIFT Invest (https://capitalatlas.ai/funds/shift-invest) — Seed
- UNIIQ — Seed
- Graduate Entrepreneur (https://capitalatlas.ai/funds/graduate-entrepreneur) — Seed