St. John’s-based Mysa has closed an $11 million round of funding, which is a continuation of the $20.3 million Series B round it announced in 2021.

The investors in the continuation round are all returning from the previous funding round: Climate Innovation Capital (CIimateIC), Cycle Capital, Bruce Croxon’s Round 13 Capital, Business Development Bank of Canada, and Killick Capital. The original round was led by Montreal-based Cycle Capital, though Toronto-based ClimateIC was the lead investor in the most recent tranche.

Mysa specializes in manufacturing smart controls for HVAC, which stands for heating, ventilation and air conditioning.  The company said in a statement the funding will support the continued development and scaling of software and hardware products that are proving “foundational to energy transition and the decarbonization of home heating and overall utility grid decarbonization.”

The company’s collection of connected devices manages over 700 megawatts of HVAC load across North America and is helping utilities to reduce grid strain during peak demand times, it said.

“Mysa is at its most exciting point in our eight-year growth journey, with an intense focus on expanding our range of leading-edge software platforms designed to help our residential and commercial customers, as well as our rapidly growing roster of utility partners,” said Mysa Co-Founder and CEO Josh Green. He added that “the continued support from existing investors  . . . highlights their strong belief in, and commitment to, the important work our team is doing.”

The funding round in 2021 resulted in a number of major announcements in 2023. It began with the acquisition of the intellectual property of Costa Mesa, Calif.-based Zen Ecosystems, with plans to incorporate the smaller company’s offerings into Mysa’s product line in an effort to land commercial clients. Mysa also entered the European Union and launched Mysa LITE, a thermostat for electric baseboard heaters.

“Mysa is at the forefront of a massive shift in energy management that requires many puzzle pieces to align effectively and efficiently,” said ClimateIC Co-Founder and Managing Partner Kevin Kisma. “Mysa’s software stack and hardware platform are major contributors to the realization of this new energy ecosystem, as we look to accelerate the road to a fully decarbonized grid.”