# MagnoTherm Solutions

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/magnotherm-solutions

- Industry: Heating, Cooling & Ventilation Equipment and Services
- Headquarters: Darmstadt, Germany
- Website: www.magnotherm.com
- Total disclosed funding: $6.9M
- Latest round: Seed (Jul 6, 2023)
- Investors on record: 7

## About

Based in Germany, and founded in 2019, MagnoTherm Solutions GmbH provides heating and cooling solutions using magnetic material. As of 2023, the company is headed by its CEO Dr. Max Fries. In April 2023, the firm raised EUR 6.3 million in Seed funding led by investor Extantia, with participation from another investor BM H Beteiligungs-Managementgesellschaft Hessen, Lauda Dr. R. Wobser Beteiligungs-GmbH and Revent. 

The company offers cooling and heating solutions that are based on magnetic materials. The firm’s technology enables customers to replace the conventional gas compression cycle with a magnetic refrigeration cycle. It also offers magnetic cooling systems for room temperature applications and hydrogen liquefaction plants. The firm solution offering includes Polaris which is a magnetic beverage cooler. Additionally, it provides MS 90 which is a materials testbench for testing magnetocaloric materials under real-time conditions. Furthermore, the firm provides MS 30 which demonstrates the magnetocaloric effect.

The company plan to use the April 2023 funding for its product production.

## Funding rounds

- Seed, Jul 6, 2023, $6.9M — ENGIE New Ventures, BMH, Revent, VOYAGERS, Extantia, LAUDA DR. R. WOBSER GMBH & Co. KG, Auwana GmbH

## Investors

- ENGIE New Ventures (https://capitalatlas.ai/funds/engie-new-ventures) — Seed
- BMH (https://capitalatlas.ai/funds/bmh) — Seed
- Revent (https://capitalatlas.ai/funds/revent) — Seed
- VOYAGERS (https://capitalatlas.ai/funds/voyagers) — Seed
- Extantia (https://capitalatlas.ai/funds/extantia) — Seed
- LAUDA DR. R. WOBSER GMBH & Co. KG — Seed
- Auwana GmbH — Seed