California-Based Mojave Energy Systems Raises $19M in Series B Funding

The round also saw investment from new investor River Bay Investments. Returning investors At One Ventures, Fifth Wall, Myriad Venture Partners, and Starshot Capital also participated, along with new investors Cleo Capital and MetaTrail.

The company plans to use the funding to grow its sales organization, expand manufacturing capacity, and continue developing products on its ArctiDry platform.

What is Mojave Energy Systems?

Mojave Energy Systems develops climate systems that focus on controlling humidity and temperature separately in commercial buildings.

Its ArctiDry platform uses patented liquid desiccant technology. The company's ArctiDry DX unit is a liquid desiccant air conditioner often used as a Dedicated Outdoor Air System (DOAS).

Read More:Viswa Colluru Co-Founded Enveda Raises $311M in Series E Funding

Its ArctiDry Hydro system works with existing chilled-water plants and can achieve supply-air dew points as low as 25°F.

The systems are designed for commercial buildings across sectors including grocery, healthcare, hospitality, education, and industrial facilities.

How Much Funding Has Mojave Energy Systems Raised?

Mojave Energy Systems has raised $19 million in its Series B funding round.

The latest round was led by Fairtree Elevant Ventures and included both new and returning investors.

Who Invested in Mojave Energy Systems’ Series B?

The Series B round was led by Fairtree Elevant Ventures.

Other investors included:

• River Bay Investments
• At One Ventures
• Fifth Wall
• Myriad Venture Partners
• Starshot Capital
• Cleo Capital
• MetaTrail

Why the Funding Matters

Mojave will use the new funding to expand its sales organization and manufacturing capacity.

The company will also continue developing new products based on its ArctiDry platform, with the goal of applying its humidity-focused technology across more buildings and climate systems.

Who founded Mojave Energy Systems?

Mojave Energy Systems was founded in 2022 and is based in Sunnyvale, California.

The company develops humidity-first climate systems using liquid desiccant technology.

Leadership Comments

“We’re thankful for the strong support from existing and new investors during this exciting phase of the business,” said Phil Farese, CEO of Mojave Energy Systems. “Demand for our products continues to increase because customers in grocery, industrial, hospitality, education, and other sectors are done treating humidity as a side effect of cooling.

“We back ambitious teams harnessing breakthrough innovation to redefine the future,” said David Evans, managing director at Fairtree Elevant Ventures. “Mojave has turned years of engineering work on liquid desiccant technology into equipment that building facility teams are rapidly putting to use, unlocking energy savings, superior humidity performance, healthier buildings, and reduced building carbon footprints.

Market and Business Growth

Mojave says customers using its ArctiDry systems report 30% to 60% lower energy use compared with standard HVAC systems, with typical payback periods of less than 18 months.

Its ArctiDry Hydro system can deliver supply-air dew points as low as 25°F and improve overall chilled-water plant efficiency by up to 20%.

The company is expanding ArctiDry installations across the U.S. as commercial building owners adopt its technology.

What Happens Next?

Mojave plans to expand its sales and manufacturing operations while continuing to develop new products on the ArctiDry platform.

The company aims to extend its humidity-first approach across a wider range of commercial buildings and climate systems.

Read More:Surojit Chatterjee Co-Founded Ema Raises $77M in Series B Funding