Venture Capital
Luminescent Power, a Tel Aviv-based startup that makes sustainable heat engines, raised $7 million in seed funding, the company exclusively tells Axios. Details: Grove Ventures led the all-equity round and Lior Handelsman, the SolarEdge co-founder, will join Luminescent's board. European climate tech fund Extantia Capital also participated in the round. Luminescent CEO Doron Tamir declined to share the round's valuation. How it works: Luminescent's heat engine runs entirely on liquids that have a higher thermal energy density than traditional engines. Zoom out: This is Extantia's second deep tech climate investment out of Israel this month.

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