Carrier Global has raised $120 million in a Series C round led by Ribbit Capital, valuing the HVAC and refrigeration technology company at $1.45 billion. Sequoia and Kleiner Perkins participated, with Emerson Collective joining as a new backer. The company reported revenue of nearly $21.8 billion in FY 2025, down approximately 3% year-on-year, with net income of roughly $1.5 billion. Carrier serves customers in over 160 countries, focusing on energy-efficient climate solutions amid growing demand for green building technologies. The company faces risks from international operations, which generated approximately 52% of net sales in 2025, creating exposure to currency fluctuations and geopolitical instability. Supply chain constraints on components like motors and copper could also disrupt production.

Israeli startup ZutaCore has raised $100 million in a Series C round led by Mitsubishi Electric, Carrier and Samsung Ventures, valuing the company at approximately $600 million. The funding brings total capital raised to $200 million since founding. ZutaCore develops direct-to-chip liquid cooling systems for AI processors in data centres. Its HyperCool technology uses a two-phase cooling process with proprietary dielectric liquid that boils upon contact with processors, efficiently removing heat without requiring water. The system addresses growing thermal challenges as AI server power consumption has surged from 10 kilowatts to over 100 kilowatts per rack. Founded in 2016 by CEO Erez Freibach, ZutaCore operates from Sderot, Israel, with commercial headquarters in San Jose. The company has deployed systems at over 75 sites globally and employs 140 people, with plans to add 50 more positions.

Carrier Abound has launched "Tell Me More", a generative AI feature within its Abound Insights Assistant application designed to help building operations teams interpret predictive insights and take action more quickly. The feature provides additional context and actionable guidance for facility managers and technicians managing building systems. The tool combines equipment operations data from the Abound Insights platform with generative AI trained on technical manuals, creating a conversational interface to support technician workflows. When issues are identified, the feature adds context to predictive insights and recommended actions, helping reduce ambiguity and improve equipment uptime and energy efficiency. The Abound platform currently connects to over 150,000 pieces of equipment across various building environments. The feature aims to address growing HVAC technician shortages by supporting knowledge transfer and faster issue resolution.