NEW YORK, March 9, 2026 — Coral, the climate fintech startup transforming how energy-efficient building upgrades are financed, today announced that it has raised a $7.5M seed round to support its national expansion. The round was led by ResilienceVC, with participation from Twelve Below, Floating Point, Accion Ventures, Blackhorn Ventures, Remarkable Ventures and New Climate Ventures. The round also includes a strategic investment from Watsco Ventures, a business unit of Watsco, Inc., the largest HVAC distributor in North America.
Coral is building the financial infrastructure that makes energy-efficient HVAC and electrical upgrades like heat pumps and batteries accessible. Sustainable building upgrades represent a $450B market in the US, but high upfront costs put these systems out of reach for the average American. Coral helps installers lower upfront costs by 30% through instant rebates and financing. Its AI-powered platform automatically claims complex incentives and turns them into upfront savings, so contractors can sell high-efficiency systems at lower costs.
“Energy-efficient building upgrades like heat pumps are a true win-win. They help homeowners save money, reduce strain on the grid, and decarbonize our buildings, but high upfront costs put them out of reach for the average American.” said Samir Pendse, Co-Founder and CEO of Coral. “We built Coral to make energy efficiency accessible for all, harnessing incentives and innovative financing to make these systems affordable at scale.”
Coral is already powering over 100 leading installers across the northeast and is now working with industry leaders like Watsco, Inc. and leading equipment manufacturers like Mitsubishi Electric Trane HVAC to bring Coral nationwide. The new capital will support national expansion and new financing products aimed at reducing the energy burden for building owners across the U.S.
“The transition to energy-efficient building infrastructure is one of the most critical shifts of the next decade” said Vikas Raj, Co-founder and Managing Partner at ResilienceVC, “but today contractors and homeowners are stuck in a maze of fragmented incentives and financing options. Coral is breaking that bottleneck by making incentives simple and instant at the point of sale. Their deep fintech experience and ability to quickly establish strong partnerships with the largest players in the HVAC industry makes Coral the essential infrastructure to power the electrification of buildings nationwide.”
Amee Parbhoo, Managing Partner at Accion Ventures, said, “We’re excited about Coral because it delivers triple impact across the U.S. green-energy ecosystem—powering the growth of small and mid-sized contractors, expanding affordability and access for homeowners, and driving climate and grid benefits at scale.”
Reimagining financing for energy-efficient upgrades by harnessing AI
Utilities, governments, and equipment suppliers offer billions of dollars in incentives for energy-efficient upgrades – but they are delivered through hundreds of fragmented, complex programs. It used to be impossible for contractors, distributors, and manufacturers to manage incentives across all of these programs, but Coral’s AI-powered platform now makes it possible to unlock incentives at national scale.
“Coral’s AI-driven platform exemplifies how we help HVAC/R contractors grow through technology and innovation. By enabling instant rebates at the point of sale, Coral removes barriers from the buying decision and gives contractors a powerful tool to compete and grow,” said Ivan Rapin-Smith, Managing Director, Watsco Ventures.
Taking on the energy crisis by making energy-efficient upgrades more affordable.
Energy affordability is becoming a defining issue shaping state and national politics. Home heating costs are projected to rise another 9% this winter, driven by aging grid infrastructure, extreme weather, and growing electricity demand. While heat pumps can dramatically lower long-term heating and cooling costs, high upfront prices keep them out of reach for most Americans. The bottleneck isn’t innovation, it’s access, and that’s what Coral is built to solve.
About Coral
Coral is a fintech startup tackling the energy crisis by making energy-efficient upgrades more affordable. Coral’s AI-powered platform enables heat pump installers to offer complex rebates as upfront discounts and instantly access low-cost financing. Leading contractors across the northeast use Coral to reduce upfront costs by 30%, making energy-efficient systems that were previously out of reach attainable.
Coral was founded in 2023 by Samir Pendse and Nizar Dhamani, combining deep experience in fintech, product development, and high-growth technology companies. Coral is headquartered in New York City and is actively hiring. Learn more at startcoral.com
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Media Contact:
Samir Pendse
Co-Founder & CEO
samir@startcoral.com