Shenzhen’s i2Cool Secures Series B Funding to Scale Radiative Cooling

Founded in 2022 by City University of Hong Kong scholars Professor Edwin Chi-Yan Tso and CEO Martin Y. Zhu, i2Cool focuses on full-spectrum thermal management. Their core "Particle+" platform uses engineered nanoparticles to reflect solar radiation and emit thermal energy, enabling cooling without electricity or refrigerants. By integrating AI-powered optical simulation into their polymer materials design, the firm claims to have increased R&D efficiency by a factor of 12.

The company is currently scaling rapidly, reporting a 377% compound annual growth rate in operating revenue and an order backlog valued at CNY 120 million. With over 500 projects completed across 30 countries, i2Cool is pivoting from building infrastructure toward high-growth sectors, including AI data centers, robotics, and new energy vehicles. Partners now include industry players such as Toyota Tsusho Corporation and Sunwoda Electronic.

Yanping Shi, Vice President of TopoScend Capital, noted that the investment aligns with China’s dual-carbon goals, highlighting the firm as a successful model of Shenzhen-Hong Kong research collaboration. Beyond standard coatings and films, i2Cool is diversifying its portfolio to include photoluminescent and thermochromic materials, allowing for color customization without sacrificing cooling performance.