Technology

Therma° Raises $19 Million Series A to Build Cooling Intelligence

Published

3 years ago

February 7, 2023

Funding Combats Climate Change by Using AI to Cut Energy and Food Waste from Refrigeration and Air Conditioning Systems

SAN FRANCISCO, Feb. 7, 2023 /PRNewswire/ — Today, Therma°, a cooling intelligence platform combating food and energy waste, announced a $19M Series A. The oversubscribed round was led by Zero Infinity Partners, with participation from Deciens Capital, CityRock Venture Partners, Homecoming Capita l, Ananta Capital, Kindergarten Ventures, Collaborative Fund, and Govtech Fund. Therma° will deploy the funding to become a scalable electric grid partner by dynamically lowering energy demand from cooling assets while saving customers money on utility bills.

Cooling, which includes refrigeration and HVAC (heating, ventilation, and air conditioning) is essential for human health. It is also the least understood major driver of climate change, accounting for nearly 10% of global CO2 emissions – including energy use, food waste, and refrigerant leakage. Cooling also drives emissions when extreme weather and high energy prices cause power shortages, forcing utilities to turn on expensive and dirty fossil fuel-based “peaker”power plants to maintain infrastructure and safety.

Therma° Cooling Intelligence Platform uses temperature tracking and energy optimization to alert customers to equipment breakdowns, reduce energy consumption, and move electricity usage to off-peak hours. Therma’s vision is to transform cooling systems into virtual power plants that provide cheaper, cleaner energy while preventing billions of metric tons of CO2 emissions.

“The massive growth of refrigeration and air conditioning globally will greatly accelerate climate change unless we revolutionize cooling technologies,” said Manik Suri, Therma° Founder and CEO.

“How do we best meet the ever-growing demands for cooling in the age of soaring energy prices and electric grid instability? We are excited about Therma’s innovative answer to this crucial and underserved problem,” says John Kwaak, Managing Partner at Zero Infinity Partners.

Dan Kimerling, Managing Partner at Deciens Capital, says, “Since we invested in Therma° two years ago, they have tripled revenue each year. Therma’s vision to transform refrigeration into energy storage will advance energy security around the world.”

“It is rare to find a start-up that successfully reinvents a legacy piece of ubiquitous technology like a refrigerator to prevent both energy and food waste,” says Oliver Libby, co-founding Managing Partner of leading NYC impact investing firm CityRock Venture Partners.

Therma° is currently deployed with over a thousand customers across restaurants, hospitality, education, and food manufacturing including McDonald’s, Domino’s, Marriott Hotels and NOW Foods. Join us to transform cooling at hellotherma.com.

About Therma°

Cooling, which includes refrigeration and HVAC, is the least understood major driver of climate change. Therma° Cooling Intelligence Platform uses artificial intelligence, IoT sensors, and equipment controls to reduce energy usage, prevent food waste, and reduce carbon emissions.

Therma° was founded by Manik Suri, an expert on climate, technology, and public policy. Manik has spoken on the cooling crisis at leading forums including The New York Times Climate Hub at COP26 and Techonomy Climate. He previously held positions at global investment firm D.E. Shaw & Company, the White House National Economic Council, and is a former Affiliate of Harvard’s Berkman Center for Internet & Society.

Media Contact
Aaron Cohen
aaron@hellotherma.com

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SOURCE Therma

Technology

Hexagon Interim Report 1 January – 31 March 2026

Published

35 minutes ago

April 23, 2026

STOCKHOLM, April 23, 2026 /PRNewswire/ —

First quarter 2026

Continuing operations

Operating net sales of 963.8 (961.5) resulting in organic growth of 8%Net sales including acquired deferred revenue amounted to 963.6 MEUR (961.5)Adjusted gross earnings of 606.3 (619.1) resulting in a 62.9% (64.4) gross marginAdjusted operating earnings (EBIT1) of 251.3 MEUR (248.7) resulting in a 26.1% (25.9) EBIT1 marginAdjusted earnings per share of 6.7 Euro cent (6.5)Earnings per share of 58.4 Euro cent (5.0)Cash conversion of 77% (60)Recurring revenue of 289.9 MEUR (308.0), 6% organic growthOctave reported operating net sales of 327.2 MEUR (361.3) and adjusted operating margin of 25.2% (26.6)Adjusted earnings per share including discontinued operations of 9.1 (9.4)Earnings per share including discontinued operations of 59.9 Euro cent (7.0)

For further information, please contact:
Tom Hull, Head of Investor Relations, +44 (0) 7442 678 437, ir@hexagon.com
Anton Heikenström, Investor Relations Manager, +46 8 601 26 26, ir@hexagon.com

This is information that Hexagon AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 23 April 2026.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/hexagon/r/hexagon-interim-report-1-january—31-march-2026,c4338783

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Hexagon Interim Report Q1 2026

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SOURCE Hexagon

Technology

Dragonpass Empowers Financial Institutions with End-to-End Loyalty Solutions at Money20/20 Asia

Published

35 minutes ago

April 23, 2026

BANGKOK, April 23, 2026 /PRNewswire/ — Dragonpass, a leading global travel and lifestyle platform, participated in Money20/20 Asia, showcasing its customer loyalty solutions for banks, payment providers, credit card issuers, and fintech companies across APAC and globally.

As one of the most influential fintech events worldwide, Money20/20 Asia gathers decision-makers across the financial ecosystem. At the event, Dragonpass demonstrated how financial institutions can enhance customer engagement and build long-term loyalty through integrated travel and lifestyle experiences.

Established in 2005, Dragonpass has evolved from a lounge provider into a loyalty solutions partner, serving more than 800 global clients and over 40 million members worldwide.

At the core of Dragonpass is a business structure that combines global supply aggregation, a technology-enabled engagement platform, and consumer-facing lifestyle services — providing a one-stop solution across the customer lifecycle.

Leveraging data-driven insights, Dragonpass enables partners to design and optimise loyalty programs, incorporating customer segmentation and tiered incentive structures, alongside curated campaigns and entitlement configuration — driving more effective customer activation, engagement, and retention.

Its offering includes a broad portfolio of travel and lifestyle benefits such as airport lounge access, fast-track, dining, airport transfers, and lifestyle experiences. These are supported by flexible delivery models, including API integration, white-label solutions, and ready-to-deploy digital platforms, enabling seamless integration into clients’ customer journeys.

As customer expectations evolve, the industry is shifting from standardized benefits to more personalized, experience-led loyalty models. Insights from Dragonpass’s Loyalty Index show that customers increasingly value trust, rewards, simplicity, recognition, and exclusivity, with preferences varying across markets.

“Financial institutions today are looking for more effective ways to engage customers beyond traditional rewards,” said Jane Zhu, Co-founder and CEO of Dragonpass. “User engagement is at the core of loyalty, and technology — especially AI — plays a key role in enabling deeper and more relevant customer connections.”

Dragonpass works with leading global brands including Mastercard, Visa, HSBC, and Revolut, supporting them deliver differentiated value propositions and enhance customer engagement through scalable, customizable solutions.

Through its participation at Money20/20 Asia, Dragonpass aims to strengthen its presence in the APAC market and build strategic partnerships with organizations seeking to elevate their customer engagement strategies.

About Dragonpass

Dragonpass is a global travel and lifestyle platform providing premium airport and travel experiences across 140+ countries. By integrating global supply and technology, Dragonpass enables partners to deliver seamless, personalized experiences and drive customer loyalty.

Media Contact

Dragonpass PR
Email: brandmarketing@dragonpass.com
Website: www.dragonpass.com

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SOURCE Dragonpass

Technology

SBI Life Insurance registers New Business Premium of ₹42,551 crores for the year ended on 31st March, 2026

Published

35 minutes ago

April 23, 2026

MUMBAI, India, April 23, 2026 /PRNewswire/ — SBI Life Insurance, one of the leading life insurers in the country registered a New Business Premium of ₹42,551 crores for the year ended on 31st March, 2026 vis-a-vis ₹35,577 crores for the year ended 31st March, 2025. Single premium has increased by 28% over the year ended on 31st March, 2025.

Establishing a clear focus on protection, SBI Life’s protection new business premium stood at ₹4,622 crores for the year ended 31st March, 2026, marking a growth of 13%. Protection Individual new business premium registered a growth of 23% and stood at ₹973 crores for the year ended 31st March, 2026. Individual New Business Premium stands at ₹29,783 crores with 13% growth over the year ended on 31st March, 2025.

SBI Life’s profit after tax stands at ₹2,470 crores for the year ended 31st March, 2026 with a growth of 2% over the year ended on 31st March, 2025.

The company’s solvency ratio continues to remain robust at 1.90 as on 31st March, 2026 as against the regulatory requirement of 1.50.

SBI Life’s AUM also continued to grow at 9% to ₹4,87,163 crores as on 31st March, 2026 from ₹4,48,039 crores as on 31st March, 2025, with the debt-equity mix of 62:38. 94% of the debt investments are in AAA and Sovereign instruments.

The company has a diversified distribution network of 3,58,506 trained insurance professionals and wide presence with 1,230 offices across the country, comprising of strong bancassurance channel, agency channel and others comprising of corporate agents, brokers, Point of Sale Persons (POS), insurance marketing firms, web aggregators and direct business.

Performance for the year ended March 31, 2026

Private Market leadership in Individual New Business Premium and Individual Rated Premium with market share of 25.5% & 22.9% respectively.Annualized Premium Equivalent (APE) stands at ₹ 24,266 crores with growth of 13%Individual New Business Sum Assured stands at ₹ 4,46,337 crores with 61% growthImprovement in 13M & 49M persistency by 53 bps & 107 bps respectivelyValue of New Business (VoNB) stands at ₹ 6,667 crores with growth of 12%VoNB Margin stands at 27.5%Indian Embedded value (IEV) stands at ₹ 80,791 crores with 15% growthProfit After Tax (PAT) stands at ₹ 2,470 crores with 2% growthOperating Return on Embedded Value stands at 19.7% Assets under Management stands at ₹ 4,87,163 crores with 9% growthRobust Solvency ratio of 1.90

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