Cambridge University spinout Barocal has raised $10 million seed funding from World Fund, Breakthrough Energy Discovery, Cambridge Enterprise Ventures and IP Group.

Barocal has patented solid-state cooling and heating platform technology designed to replace century-old vapour-compression systems at cost parity – all while reducing emissions.

The technology targets the $450bn global heating and cooling market, addressing the rapidly growing demand for cooling in data centres.

The funding will be used to make key hires and accelerate commercialisation.