France-based Caeli Energie secures €10M to accelerate sustainable cooling solutions

Grenoble, France-based Caeli Energie, a deeptech startup that aims to replace polluting air conditioning with low-carbon technology made in France, announced on Wednesday, September 6, that it has raised €10M in its second round of funding.

The investors in the round include Asterion Ventures, Starquest, Bpifrance, and Rise PropTech.

Charles-Henry Choel, a partner at Asterion, says, “Caeli is the only low-carbon solution for cooling buildings made in Europe and the most effective in the world. This is exactly the type of innovation designed in France which we seek to support and accompany with Asterion.”

“Bpifrance is very proud to once again support Caeli Energie, green industrial tech that brings together all the qualities to become a sustainable alternative to traditional air conditioners” adds Domitille DUBERN, Manager Investment at Bpifrance.

Caeli Energie, a disruptive player in the field of air conditioning

Caeli Energie mentions in a press release that recent heat waves driven by climate change have increased the demand for air conditioning, but traditional systems using polluting refrigerants and consuming substantial energy worsen the problem. This creates a harmful cycle. 

Caeli Energie aims to break this cycle by offering eco-friendly cooling solutions, highlighting the importance of addressing this challenge in the context of climate change.

Founded in 2020 by Rémi Perony and Stéphane Lips, Caeli Energie has developed a patented technology in collaboration with CNRS, creating a French-made air conditioner that operates without refrigerants, external heat rejection, or cold blocks.

This innovation boasts five times the energy efficiency of conventional air conditioners, offering a sustainable cooling solution.

Funds to scale up operations and product deployment

Caeli Energie says it will use the funds to accelerate the production of its low-carbon air conditioning technology and expand its commercial presence, initially in France and later throughout Europe.

The company is automating a pilot production line to reduce costs and production time for their systems. Additionally, it plans to double its workforce, with approximately 15 new hires in industrial, marketing, or commercial roles over the next 18 months. 

Caeli Energie’s CEO, Rémi Perony, says, “Today we are in a paradoxical situation. Every summer we break heat records that we fight with accelerating air conditioning and the climate emergency. Thanks to our investors, we will multiply our production capacities, in order to provide a thermal comfort solution efficient and responsible while creating a European sector.”

Brief about the investors

Asterion Ventures is a French VC focused on high-impact and climate tech startups. It employs a club deal approach, allowing individual investors to support projects aligned with their impact goals. Launched in 2021, Asterion has already funded 18 startups and aims to support 100 more in the next five years.

Starquest has a 15-year history of supporting industrial startups engaged in ecological transition, especially in renewable energy and resource preservation. With over €300M in management, they invest through their Article 9 SFDR Starquest Protect fund, contributing €3M to €15M in Series A and B funding rounds.

Bpifrance provides financial support, innovation assistance, and international expansion support to companies at all stages of development. It offers services like consulting, networking, and accelerator programmes. Additionally, Bpifrance’s French Tech Seed Fund, with €500M, supports innovative startups less than 3 years old with strong technological innovation.

Rise PropTech invests in late-seed and Series A proptech and contech startups across France, the Benelux, and the DACH region. It focuses on companies addressing environmental challenges in construction and real estate technology. The firm also facilitates collaborations between startups and industry leaders, fostering an ecosystem of innovation.