Venture-backed Mysa acquires IP assets of Zen Ecosystems

• Zen Ecosystems is a US provider of smart thermostats for central heating and cooling and commercial energy management solutions
• The acquisition allows Mysa to provide smart thermostat solutions to a larger number of homes, while expanding into commercial energy management
• In 2021, Mysa raised C$20.3 million in Series B financing led by Cycle Capital Management

Mysa has acquired the intellectual property of Zen Ecosystems, a Costa Mesa, California-based provider of smart thermostats for central heating and cooling and commercial energy management solutions. No financial terms were disclosed.

Mysa, a St. John’s, Newfoundland-based smart thermostat company, said the acquisition is its first.

The acquisition allows Mysa to provide smart thermostat solutions to a larger number of homes throughout North America, while expanding into commercial energy management using Zen’s established platform, ZenHQ.

ZenHQ is a cloud-based service that helps small to medium-sized businesses monitor, analyze and optimize their energy usage across multiple locations and reduce their carbon footprint and energy costs.

“All of Zen’s products, both the line of thermostats and the ZenHQ platform, fit perfectly into the Mysa product family. This acquisition is a natural step for Mysa as we continue to accelerate the complete electrification of heating and cooling.” said Joshua Green, Mysa co-founder and CEO, in a statement. “Building on Zen’s amazing product design for central heating and cooling systems as well as commercial energy management, we’ll be able to provide even more value to our customers and bring about a cleaner, more sustainable future.”

In 2021, Mysa raised C$20.3 million in Series B financing. The round was led by Cycle Capital Management, with participation from Round13 Capital’s Earth Tech Fund, Climate Innovation Capital, BDC Capital’s Cleantech Practice, Export Development Canada and Killick Capital.