Cooling technology company Sure Chill has secured £4m Series A investment from Africa-focused VC Novastar Ventures and London-based VC The Garage Soho to enable the firm to develop wider cooling technologies for the mass market on a global scale, starting in Africa.
In a statement, Andrew Carruthers, Co-founder of Novastar Ventures, said: “We were initially attracted to Sure Chill after seeing the application of its cooling technology to the safe storage of life-saving vaccines in some of the most remote places in Africa. Together with Sure Chill management, we see enormous potential to deploy the technology to serve the refrigeration needs of mass consumer and small business markets that are currently hindered by inconsistent and unreliable access to electricity.”
The Sure Chill technology harnesses a unique property of water to enable continuous cooling from inconsistent power and is the only company to use this type of technology. The technology can keep on cooling refrigerators for days when the power goes out.
Sure Chill cooling technology can improve lives for billions of people in developing countries whilst also helping businesses to reduce energy costs.
“We are delighted to welcome two significant investors to join our ever-growing story. Both bring a particular skill set and experience to the company which is complimentary. The funds will ensure we take the business to the next phase by successfully entering new markets and making Sure Chill a global brand.” Said Nigel Saunders, CEO of Sure Chill.