Modern Electron: Raises $30M in Series B Funding

Modern Electron Raises $30M in Series B Funding

• Modern Electron, a Bothell WA-based sustainable heating and power technology company, raised $30M in Series B funding
• The round was led by At One Ventures, with participation from new investors Extantia, Starlight Ventures, Valo Ventures, and strategic investors IRONGREY and Wieland Group
• As part of the financing, Tom Chi, founding partner at At One Ventures, will join Modern Electron’s board of directors
• The company intends to use the funds to integrate its proprietary technologies into heating appliances with manufacturers of HVAC and energy systems
• By converting wasted heat into bonus electricity, ModernElectron increases the efficiency of furnaces, boilers, and hot water heaters
• This saves homeowners and building operators money, reduces CO₂ emissions, and increases the resiliency of critical heat & electricity systems during power outages