i2Cool raises $4.5M Series C for zero-power cooling tech

What's the deal? Hong Kong-based i2Cool has raised 30 million CNY (about $4.5 million) in a Series C round, the company announced in September 2026. The round was backed by Tou Kong Donghai Investment.

What's the endgame? i2Cool develops electricity-free cooling materials, turning research first published in the journal Science into commercial products. Its coatings and films use in-house nanomaterials to reflect sunlight and radiate mid-infrared heat, cooling surfaces by up to 42℃ with zero energy use.

Who's behind it? The company was founded by professors and young scientists from the School of Energy and Environment at City University of Hong Kong.

Where it applies: The technology targets buildings, power, chemicals, grain storage, solar, logistics, and new energy sectors.

The signal: At roughly $4.5 million, the round sits in the smaller tier of funding deals — around the 11th percentile by size. For a materials startup commercialising academic research, it marks incremental progress toward scaling passive cooling as an alternative to power-hungry air conditioning.

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