Georgia Tech’s heat regulation material developer Carbice picked up capital from Downing Ventures and Toyota AI Ventures that will support recruitment.

Carbice, a US-based thermo-storage material spinout of Georgia Institute of Technology, has raised $15m in an initial series A tranche led by venture capital firm Downing Ventures.
Toyota AI Ventures, a corporate venturing subsidiary of carmaker Toyota, also contributed to the round.
Founded in 2017, Carbice has created an aluminium and carbon material for regulating heat within electronic devices, reducing the risk of overheating.
Its scientific founder is Prof Bara Cola, who specialises in heat transfer, combustion and energy systems and works in the George W. Woodruff School of Mechanical Engineering.
The funding will help Carbice attract sales and marketing talent and scale production to cope with anticipated demand for its technology.
Incubator TechSquare Labs and public-private VC fund GRA Venture Fund co-led a $1.5m seed round in 2017.
Jim Adler, founding managing director of Toyota AI Ventures, said: “Thermal management is a critical electronics issue that has seen little disruptive innovation.
“Carbice Carbon’s heat-conducting technology is a game-changer for applications in multiple industries. Bara is a proven leader with the ideal combination of vision, strategy, operations and technical expertise to realise Carbice’s potential.”
– A version of this article first appeared on our sister site, Global Corporate Venturing.