Fulmer & Company is pleased to share that it has closed an investment in Therma, a technology company founded in 2014 and based in San Francisco. Funds raised for this tech startup total $7 million CAD, which will go toward R&D, product enhancements and market expansion.
Therma, formerly CoInspect, is an environmentally responsible company that builds hardware and software for food safety and quality management. Its primary customers are businesses in food, healthcare, hospitality, and manufacturing industries.
The company, named after its proprietary IOT device - Therma, has created a sensor-based 24/7 smart refrigeration monitoring platform. Led by the Founder and CEO, Manik Suri, the team is driven by its passion for making a positive impact on climate change. By introducing Therma to the commercial cold chain system, the company helps its customers collect real-time data, and monitor and manage equipment performance. The data collected can be used to further assist businesses in energy consumption optimization, food safety and quality assurance, as well as product loss reduction.
Studies prove that refrigerant emissions are more warming effect than CO2. 11% of all refrigerant emissions are from food waste throughout the supply chain. Therma featured smart cold chain platform will help diagnose inventory storage issues, avoid predictive equipment failures, and prevent energy and product waste.
Manik says "we are making a meaningful contribution to the supply chain by improving product safety and sustainability. Our customers have saved thousands of dollars in product waste and food spoilage by using Therma."
"Therma offers a smart, innovative solution that addresses two pressing issues - supply chain underperformance and refrigerant environmental contamination. The business is highly scalable. We are proud to be Therma's partner in its future development and growth", commented Yuri Fulmer, CEO of Fulmer & Company.
Learn more about Therma and the products, please visit hellotherma.com
For more information about Fulmer & Company or our investments, please contact yuri@fulmerandco.com or visit fulmerandco.com
