DRIC is a technology company.
DRIC has raised $4.0M across 1 funding round.
Key people at DRIC.
DRIC has raised $4.0M in total across 1 funding round.
DRIC has raised $4.0M in total across 1 funding round.
DRIC's investors include Alaya Capital, Alpha Capital Acquisition Company, FJ Labs, Kalei Ventures, Rivet Ventures, Wayra Hispam, Fabricio Bloisi.
DRIC, specifically Developed Refrigeration and Air Conditioning Industries Equipment Company (DRIC), is a manufacturing firm established in 1988 that designs and produces high-quality refrigeration and air conditioning systems.[1] It serves diverse sectors including industry, commerce, commercial and residential buildings, hospitals, and public facilities across Arab and African markets, solving challenges in cooling needs with energy-efficient, silent-operation products like industrial chillers, water chillers, central air conditioning systems, air handling units, fan coils, cooling towers, and electrical panel cooling units.[1] The company emphasizes innovation, advanced technologies, and environmental sustainability, maintaining strong growth through over 30 years of experience and continuous R&D investment.[1]
Note that multiple entities share the "DRIC" name: a Brazilian software firm (dric.global) focused on data storage, transmission, and management with virtual expansion up to 5000%; DricPro, a managed services provider in end-user support, infrastructure, and cybersecurity; and references to "Dric Code" for file storage technology.[2][3][4][5] This analysis centers on the primary match from search results, the refrigeration manufacturer, as it aligns most closely with a longstanding technology-enabled industrial company.[1]
DRIC was founded in 1988 in the Arab region, with its factory established the following year and first production starting in 1990.[1] Initially focused on industrial chillers, ice production equipment, and condensing units, the company expanded its product line to include water chillers, central air conditioning systems, air handling units, fan coils, cooling towers, and electrical panel cooling units.[1] Key pivotal moments include developing advanced production lines and building a regional reputation through quality and innovation, achieving leadership status over three decades without specific founder details available in sources.[1]
DRIC rides the trend of energy-efficient cooling technologies amid rising demands for sustainable HVAC solutions in emerging markets like the Arab and African regions, where industrialization and urbanization drive needs for reliable refrigeration and air conditioning.[1] Timing favors DRIC due to global pushes for high-efficiency systems to reduce energy consumption and emissions, aligning with its eco-friendly focus.[1] Market forces such as expanding commercial, healthcare, and public infrastructure bolster its position, while its innovations influence regional adoption of advanced, localized HVAC tech, reducing import reliance.[1]
DRIC is poised to expand its leadership through sustained R&D in cutting-edge, eco-friendly refrigeration amid growing sustainability mandates and market demands in its core regions.[1] Trends like smarter, greener HVAC integrations and climate-driven cooling needs will shape its trajectory, potentially amplifying influence via new product lines or partnerships.[1] As a pioneer with proven momentum, DRIC exemplifies how targeted industrial tech drives efficiency in high-growth ecosystems, tying back to its foundational role in high-quality cooling solutions.[1]
Key people at DRIC.
DRIC has raised $4.0M across 1 funding round. Most recently, it raised $4.0M Seed in April 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Apr 1, 2021 | $4.0M Seed | Alaya Capital, Alpha Capital Acquisition Company, FJ Labs, Kalei Ventures, Rivet Ventures, Wayra Hispam, Fabricio Bloisi |
