# Thermal

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

- Industry: Materials
- Headquarters: Ningbo, China
- Website: www.i-thermaltec.com
- Latest round: Series B (Sep 5, 2025)
- Investors on record: 4

## About

Founded in 2018, and based in Ningbo, China, Thermal is a metal composite material manufacturer engaged in the manufacture and sale of thermal management materials and new electronic components. In April 2024, the company closed a venture funding from new investor Habo Capital. In September 2025, it closed a series B+ funding from new investors JCC Asset Management, Wenzhou Fangdao Investment and Shenzhen HTI, with participation from returning investor Morning Star Capital.

Thermal mainly develops and produces graphite aluminum composite materials. Its products mainly include graphite aluminum composites, graphite aluminum sandwich devices and diamond copper composites, etc. The products can be used in chip packaging, 5G communications, new energy vehicles, aviation, aerospace and other fields.

The company generates revenue by developing graphite aluminum composites, graphite aluminum sandwich devices and diamond copper composites.

The company plans to use the series B+ funding to supplement technology research and development, expand product application scenarios, and enhance its market competitiveness.

## Funding rounds

- Series B, Sep 5, 2025 — Shenzhen HTI, JCC Asset Management, Morning Star Capital, Wenzhou Fangdao Investment

## Investors

- Shenzhen HTI (https://capitalatlas.ai/funds/shenzhen-hti) — Series B
- JCC Asset Management (https://capitalatlas.ai/funds/jcc-asset-management) — Series B
- Morning Star Capital (https://capitalatlas.ai/funds/morning-star-capital) — Series B
- Wenzhou Fangdao Investment — Series B