Karman Industries raises $20 million Series A funding round led by Riot Ventures

Karman Industries secured a $20 million Series A funding round led by Riot Ventures to scale production of its Heat Processing Unit (HPU) and Kompressor cooling technology for data centers. The funding will enable the completion of its Gigawerx manufacturing facility in Los Angeles, California, and support the hiring of engineers with aerospace backgrounds from SpaceX and Rocket Lab. The Kompressor, a high-speed CO2-based cooling system, is designed to reduce data center cooling footprints by 80% and improve power usage effectiveness (PUE) by up to 25% compared to conventional systems. The company, co-founded by David Tearse and CJ Kalra, aims to deliver its first production systems to customers by 2027, with an annual production capacity of 1GW by Fall 2026. Riot Ventures, which previously employed Tearse as an entrepreneur-in-residence, led the investment round.

Counterparts (4)

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Antora Technologies

company

Antora Energy is a U.S.-based thermal energy storage technology manufacturer focused on industrial heat and power solutions. The company develops modular, factory-built carbon block thermal storage systems for industrial facilities, backed by $150M in financing from investors including BlackRock and Temasek.

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Skyryse

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Lender

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Riot Ventures

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borrower

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Karman Industries

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