London-based cooling technology company Sure Chill has secured a £4-million Series A investment to help it develop wider applications and impact more businesses globally, starting in Africa.
Sure Chill has developed a unique cooling technology that protects lifesaving, temperature-sensitive vaccines in emerging countries where access to consistent and reliable power supplies are rare.
Its technology harnesses a unique property of water to enable continuous cooling from inconsistent power, with customers including UNICEF, Ministries of Health, MSF and other key partners in global health.
Since the first Sure Chill product was launched in 2011 the company has sold into 49 countries globally, with its cooling technology used in both East and West Africa already by Ministries of Health.
"As we launch further cooling solutions designed for the home and business we will leverage our networks in these locations, as we've got great interest from the larger economies like Nigeria and Kenya. We plan to launch new solutions in 2020," said Nigel Saunders, chief executive officer of Sure Chill.
Last year, Sure Chill was selected to join the UK Prime Minister Theresa May on a four-day trade mission to Africa, meeting with leading businesses, policymakers and entrepreneurs, and it has now raised £4 million in funding to expand on the continent.
The investment, which comes from Africa-focused firm Novastar Ventures and the London-based The Garage Soho, will enable Sure Chill to accelerate the development of wider applications of the technology for the benefit of households and businesses on a global scale, starting in Africa.
"We are delighted to welcome two significant investors to join our ever-growing story. Both bring a particular skill set and experience to the company which is complimentary. The funds will ensure we take the business to the next phase by successfully entering new markets and making Sure Chill a global brand," said Saunders.
Andrew Carruthers, co-founder of Novastar Ventures, said his company was initially attracted to Sure Chill after seeing the application of its cooling technology to the safe storage of life-saving vaccines in some of the most remote places in Africa.
"Together with Sure Chill management, we see enormous potential to deploy the technology to serve the refrigeration needs of mass consumer and small business markets that are currently hindered by inconsistent and unreliable access to electricity," he said.