Miru Raises $20 Million USD in Series A Financing Round

The funding will enable Miru to rapidly commercialize electrochromic window technology for the automobile, architectural, marine, and aviation verticals

VANCOUVER, BC, Aug. 8, 2024 /PRNewswire-PRWeb/ -- Miru Smart Technologies ("Miru"), a developer of next generation electrochromic windows (eWindows), announced the closing of $20M USD in Series A financing. The Series A was co-led by the Business Development Bank of Canada's investment arm, BDC Capital, and Angelo Paletta of TNG Capital Corp., with follow-on investments by Greensoil Proptech Ventures. Vivian Kan and Kieron Hayes joined Miru's Board of Directors effective April 2024.

This Series A will fund investment into Miru's dynamic glass roofs for automobiles, and support the build of new pilot lines in North America and Europe that will service the automotive and architectural markets.

"BDC's investment in Miru underscores our commitment to fostering innovation and sustainability in smart building solutions," said Vivian Kan, Partner, BDC Capital's Climate Tech Fund. "Together with Miru, we look forward to advancing glass technology that not only enhances energy efficiency but also transforms the way we interact with our environments."

"Miru developed eWindows technology faster than has ever been done before, and this funding furthers our ability to scale at this unprecedented pace and bring Miru technology to market," said Curtis Berlinguette, CEO and Founder, Miru. "With the support of investors such as BDC Capital, TNG Capital Corp and others, as well as strategic partnerships with industry-leading glass makers and fabricators, Miru is poised to redefine energy efficiency and carbon removal efforts in building and automotive industries."

The $20M Series A will enable Miru to deliver on the goal of eliminating 2 Gigatons of CO2 emissions by increasing the energy efficiency of buildings by 20% and by extending the range of electric vehicles by 10%. Currently, Miru has three demonstration plants being designed across North America and Europe, and another two are in development.

About Miru

Miru Smart Technologies develops next-generation electrochromic windows (eWindows) for the transportation and architectural sectors. Miru is disrupting how eWindows are made and distributed. Miru's vision is to improve the well-being of people and our planet, and to bring 10 million square feet of eWindows to the market by 2028. Learn more at mirucorp.com

About BDC Capital

BDC Capital is the investment arm of BDC, Canada's bank for entrepreneurs. With over $6 billion under management, BDC Capital serves as a strategic partner to the country's most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, as well as fund investments, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.

Media Contact

Megan Verchere, Miru Smart Technologies, 1 6047613946, [email protected], www.mirucorp.com 

SOURCE Miru Smart Technologies