Radiator Labs, a company founded to solve steam radiator night sweats (an all-too-common problem in cities like New York), is expanding beyond smart radiator covers with $30 million in fresh cash. The company also announced a new name, Kelvin.
Climate technology-focused investor 2150 led Kelvin’s series A round, while Schmidt Family Foundation (aka Google Money), Partnership Fund for NYC (aka private equity money) and “several previous investors” also participated, the company said in a statement. a statement.
When Kelvin’s “Cozy” radiator cover debuted on Kickstarter, the company promoted it as a “NEST thermostat” for overly hot radiators. Since then, the product has evolved from cloth covers for tenants (think giant oven mitts) to a line of slimmer metal covers offered to buildings under a subscription that “cost about $10-15/apartment/month,” Kelvin told Acutely.info.
Kelvin declined to share its appreciation, saying it will use the money to expand into the UK, Germany and other parts of Europe. The company added that it plans to offer heat pumps — a heating technology critical to building decarbonization — later this year.
When asked if it will be a challenge for Kelvin to differentiate itself from its namesake temperature scale, the company told Acutely.info it is not “overly concerned about confusion.”
“Because our technological scope extends beyond radiators, we wanted a name that was concise and described our mission,” the company said. “Essentially what we’re trying to do is upgrade the occupied space temperature control in the most cost-effective way.”
