Company Updates

Airthium’s Raise Moves in the Right Direction

Since its raise began in July 2022, Airthium has found product-market fit in two sectors and lowered its valuation.
Featured Image

Funding Round Details

Airthium logo
Company: Airthium
Security Type: SAFE
Valuation: $20,000,000
Min Investment: $250
Platform: Wefunder
Deadline: Oct 26, 2023
$5,000,000
$2.7M
View Deal

I didn’t think I would be writing an update about Airthium just nine months after writing a Deal to Watch report about the company. But the news is too good to wait.

Airthium — a French startup building a high temperature heat pump — is extending its round until April 2024. It has made great progress from a business standpoint since it opened its round in July 2022, and most importantly, it lowered its valuation from $55 million to $20 million. Both current and new investors in this round will benefit from this lower price. Because Airthium is finally raising at a fair price, it makes the investment opportunity even more attractive than it was last year.

Little by Little

Airthium’s product can both decarbonize heat-intensive manufacturing processes and facilitate long duration energy storage by transforming electricity in heat and storing it in molten salt containers on renewable energy farms. It is a high-risk, high-reward investment opportunity. As with any new technology, there is significant risk that Airthium could fail — whether from technical or financial hardship. But if Airthium’s technology is as much of a breakthrough as the company envisions it to be, it could bring large returns to investors while also helping to mitigate climate change.

With such a complicated startup, every step forward is a win. As the saying goes, the only way to eat an elephant is one bite at a time. And Airthium is making good progress.

It signed a memorandum of understanding — a nonbinding agreement that states both parties’ intention to collaborate — with McCain, a large Canadian food company with more than $8 billion in revenue. Per the agreement, Airthium and McCain will install a 100-kilowatt heat pump pilot at its Bethune plant in northern France in late 2024.

Airthium is also targeting the American market. It signed a letter of intent with Cemvita, an industrial biotech company based in Texas.

This achievement shows that Airthium has made technical improvements since we talked back in September for Andrei Klochko’s Founder Profile. It also demonstrates that there is a product-market fit in the food and biotech sectors.

The company is preparing itself to find clients and released a calculator to help future partners understand the applications and benefits of Airthium’s technology.

I’m glad to see that Airthium is starting to work on its product’s commercialization. The company can only succeed if it makes financial sense for its clients. The company’s raise is moving in the right direction, so investors can finally jump aboard at a fair price.


Léa Bouhelier-Gautreau
About: Léa Bouhelier-Gautreau

Léa is passionate about impact investing and sustainability. Prior to KingsCrowd, she worked for Stanford’s accelerator, StartX, helping to select the most promising entrepreneurs. She also led the first award-winning study on the Malawian startup ecosystem. In her free-time, she volunteers to help entrepreneurs in Cameroon, Brazil and Colombia. Léa holds a degree in Anthropology from France and is currently enrolled in the UC Davis MBA program.


Recent Posts

Spotlight: How AAPI Founders Impact Online Private Markets

Celebrate AAPI Heritage Month with a look at the achievements of AAPI founders in the equity and debt crowdfunding sectors since January 2023, highlighting their significant financial contributions and leadership.

Olivia Strobl
Olivia Strobl May 20, 2024
Industry Analysis
Spotlight: How AAPI Founders Impact Online Private Markets

Exploring the Impact of Age Differences Among Co-Founders

Dive into our analysis of the age ranges between co-founders in equity crowdfunding, revealing how diverse age gaps can influence startup dynamics and success.

Léa Bouhelier-Gautreau
Léa Bouhelier-Gautreau May 13, 2024
Industry Analysis
Exploring the Impact of Age Differences Among Co-Founders

Diversifying Real Estate: Dutch Mendenhall’s Investment Strategies

Tune into Inside Startup Investing for an insightful conversation with Dutch Mendenhall, CEO of RAD Diversified, as he discusses building a real estate empire and democratizing property investment through innovative platforms.

May 10, 2024
Podcasts
Diversifying Real Estate: Dutch Mendenhall’s Investment Strategies

Give your startup investing an edge by creating a free KingsCrowd account and getting started today.

Get a free weekly Pitch Review!

Sign up for our 3 minute newsletter with fresh takes on the top-rated investments and key startup trends you should know.

We care about the protection of your data. Read our Privacy Policy.