13 fundings; $250M+ invested in NYC startups in the past week. NYC Tech News for the week ending 5/15 featuring news for Heartbeat Health, Lili, and much, much more.
As we close out spring in the city and summer approaches, New Yorkers will be largely reliant on window air conditioners to get through the hot, blistering days in their apartments. 75% of the buildings in NYC’s five boroughs were constructed before 1960 and central air systems in buildings became more prevalent in the latter portion of the 1960s. Even in cases where a building is refurbished, many developers opt to avoid the immense cost of retrofitting central systems due to immense costs and regulations. While window air conditioners haven’t changed much in appearance, Windmill modernizes the window air-conditioner with its state-of-the-art, wifi-connected units. Retailing for ~$395, the company offers a powerful, efficient unit that cools rooms up to 350sq feet; the sleek casing looks more like an Apple product than a typical box that hasn’t really evolved in decades. Windmill’s first model is available direct-to-consumer through its site and online through Home Depot; the company will be sold in PC Richard showrooms and its website soon. AlleyWatch caught up with Founder and CEO Mike Mayer to learn more about the inspiration of the business, the future expansion plans, and latest round of funding from investors that include Pentland Ventures, Untitled, Next Play Ventures, and Graph Ventures.
Over $180M in funding raised! The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 5/11/2021 featuring funding details for Windmill, Sanctuary, and much more.