Thermalytica raises ¥440m Series A led by D4V
The NIMS spinout will strengthen manufacturing and expand applications for its tiisa insulation material in Japan and overseas.
Thermalytica has completed a ¥440 million Series A led by D4V, with participation from Mitsubishi UFJ Capital, Miyako Capital, Wistron and angel investors in Singapore. The company announced the financing on August 24, 2026.
Funding the next stage
The proceeds will help establish a manufacturing system for stable, larger-scale production of tiisa, its flexible silica-aerogel insulation material. Thermalytica will also invest in application development, domestic and international sales and recruitment for management, business-development and sales roles.
The company is pursuing uses in areas including industrial insulation, hydrogen infrastructure, battery safety and electronics. Its development work combines material performance with the manufacturing and application requirements needed to supply those markets.
Established in 2021 as a spinout from Japan’s National Institute for Materials Science, Thermalytica is working to move from research and development toward business growth. The financing accompanies a refreshed company and product brand intended to support that international expansion.
Use of funds
Strengthen tiisa manufacturing for mass production
Develop applications and expand international sales
Recruit management, business-development and sales staff