Aira has successfully closed a Series B financing round, securing €145 million from prominent climate tech investors in Europe, the US, and Asia. This funding round exceeded its initial target of €85 million and was led by Altor, Kinnevik, and Temasek. The investment will enable Aira to expedite the electrification of residential heating in Europe, helping households reduce energy costs, drive decarbonization, and decrease reliance on natural gas imports.
In addition to the leading investors, the financing round also involved the Burda family, Collaborative Fund, Creades, Lingotto, Nesta Impact Investments, and Statkraft Ventures. The funds will support Aira’s goal to transition Europe away from gas-based heating systems. With over 130 million fossil fuel-based boilers in use, residential heating accounts for 10% of Europe’s total CO2 emissions. Aira’s innovative air source heat pump technology can reduce household heating costs by up to 40% and CO2 emissions by 75%, potentially reaching 100% with fossil-free energy sources.
Furthermore, Aira has secured an additional €15 million in grants from the Polish government to establish a cutting-edge manufacturing facility for heat pumps in Poland. With a total of €195 million in equity funding and grants, Aira is well-positioned to achieve its ambitious growth objectives.
The funding will support Aira’s strategy to expand its market presence across Italy, Germany, and the UK, aiming to provide clean energy-tech solutions to five million European homes over the next decade. It will also enable the introduction of an affordable monthly payment model for homeowners and the expansion of Aira’s clean energy-tech portfolio to include intelligent heat pumps, solar panels, battery storage, and electricity tariffs. Additionally, the funds will facilitate research and development efforts to enhance customer-centric clean energy-tech solutions.
