Berlin – Climatetech start-up Magnotherm, a producer of innovative refrigerators that are cooled using magnetic fields, has successfully completed a seed round of financing worth EUR 6.3 million. The round was led by Extantia Capital. The venture capital fund targets its investments at innovative start-ups with a focus on scaling and deep decarbonisation. Other investors include Revent VC, BMH Beteiligungs-Managementgesellschaft Hessen mbH and plant manufacturer Lauda.
The technology developed by Magnotherm is aimed at creating cooling systems that are more efficient and more climate-friendly. Magnotherm plans to use this fresh funding to commence series production. The technology will be used in applications such as sustainable chiller shelves in retail and for liquefaction of hydrogen, to produce e-fuels for example.
A CMS team headed by Dr Jörg Zätzsch advised Extantia on all legal aspects of the round of financing. CMS regularly advises start-ups and venture capital investors, covering the entire lifecycle of start-ups, from formation through financing rounds to exit.
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