SOFII Announces Funding for SmartCocoon: Transforming HVAC Efficiency

We are delighted to share that SmartCocoon Inc., an innovative company in the field of climate control technology, has secured funding through the Southern Ontario Fund for Investment in Innovation (SOFII) . This funding is a testament to our commitment to supporting groundbreaking enterprises across southern Ontario.

About SOFII: Empowering Innovation and Growth

SOFII is dedicated to fostering innovation and growth in small- and medium-sized enterprises (SMEs) throughout urban and rural communities in southern Ontario. Our program provides interest-bearing business loans ranging from $150,000 to $500,000, with additional funding available on an exception basis. Launched by the Government of Canada through the Federal Economic Development Agency for Southern Ontario | Agence fédérale de ... (FedDev Ontario) in July 2012, SOFII is delivered in southeastern Ontario by Community Futures Eastern Ontario .

Meet SmartCocoon ?Inc.: Revolutionizing Climate Control

SmartCocoon is at the forefront of heating, ventilation and air conditioning (HVAC) efficiency transformation. The company specializes in developing a smart vent fan that enhances HVAC efficiency and offers an AI-driven micro-zoning climate control system. This technology enables customers to have separate temperature settings for different rooms or areas within a building.

A Smart Solution for Modern Homes

SmartCocoon is proud to introduce the world's first AI-driven booster fan. Unlike traditional booster fans, SmartCocoon syncs seamlessly with both smart and conventional thermostats. It delivers automated room-by-room temperature control without altering the aesthetic of your home. Users can control it through an optional app, adding convenience to the mix.

SOFII Funding to Propel Commercialization

SOFII funding will be a critical driver for SmartCocoon's expansion plans. The company aims to onboard two new third-party marketplace retailers, strengthen existing sales channels and launch a wholesale program. These efforts will necessitate a substantial ramp-up in inventory.

Pioneering Change

Originally operating as a home automation company, SmartCocoon underwent a strategic shift. The company responded to the real-world problem of rooms being excessively hot or cold by developing smart booster fans. Extensive prototyping and testing led to the creation of products that resonated with customers, igniting its remarkable journey.

Honoured by Sustainable Development Technology Canada (SDTC)

SmartCocoon's commitment to innovation and sustainability has earned it an investment from Sustainable Development Technology Canada (SDTC). This prestigious investment, awarded to only 25 exceptional companies out of numerous candidates across Canada, recognizes potential and provides a remarkable opportunity to bring SmartCocoon’s technology to the commercial market, further fueling its growth and impact.

Revolutionizing HVAC Efficiency

SmartCocoon's technology addresses a common problem in most homes: rooms that are either too hot or too cold. By automatically sensing and redirecting energized airflow from areas where it's not required to those in need, it provides automated room-by-room temperature control. This innovative approach can save up to 30 percent in HVAC energy consumption, transforming the efficiency of HVAC systems.

Andrew Bowen, CEO of SmartCocoon shared “Obtaining the SOFII loan is a pivotal element of our non-dilutive funding strategy, enabling us to access new markets and develop the next generation of our smart energy-saving HVAC technology. The existence of such flexible programs in Ontario is essential for the growth of cleantech companies such as ours.”

At Community Futures Eastern Ontario, we are excited to support SmartCocoon through SOFII as it drives innovation in the cleantech sector. SmartCocoon’s transformative solutions for HVAC efficiency are a testament to the power of innovation, and we look forward to the company’s continued success.

Join us in celebrating SmartCocoon‘s achievement and stay tuned for more success stories from SOFII as we empower innovation and ignite growth across southern Ontario. #SOFII #Innovation #FundingSuccess #SmartCocoon