Seed Round Announcement
Conry Tech secures AUD$3m seed round to build world’s best air conditioner
Startup hopes to build manufacturing facilities in Australia
Melbourne, 14th October 2025 – Conry Tech, a startup on a mission to reinvent air-conditioning and eliminate a billion tonnes of CO2 emissions, has raised AUD$3m in seed funding. This takes its total funding to AUD$13m, ahead of a potential Series A planned for 2026. The round was led by specialist climate tech investor, Audacy.
“The aim is simple. Build the world’s best air-conditioner,” said Conry Tech co-founder and CEO, Sam Ringwaldt.
The seed money will allow Conry Tech to build its BullAnt air-conditioner, which can halve the energy bills of a commercial building. The BullAnt has been developed entirely in Australia to date, and Conry Tech will use its new investment to finish its development and expand its team.
“Like the iconic insect, our system is small, powerful, and distinctly Australian,” continued Ringwaldt. “We are building the BullAnt from scratch, with no off the shelf components, to be the most energy efficient air-conditioner on the market, and we have spent 5 years in R&D to get to this point This raise allows us to now accelerate through the next steps of our go-to-market strategy. We believe this has the potential to revolutionise air-conditioning, which is one of the largest sources of global electricity use and emissions.”
Fellow co-founder, Ron Conry, moved his Turbocor business to North America in 1999 after getting AUD$26m from the Canadian Government, and has set up 30 factories worldwide in his career. Conry and Ringwaldt returned to Australia with the goal of manufacturing their BullAnt system in Australia.
“I’ve been in the air-conditioning sector for 60 years, and it has barely changed,” said Ron Conry, Conry Tech CTO and co-founder. “With ambitious net zero targets on the horizon, we need genuine innovation to reduce soaring global HVAC emissions. It’s critical that new products like the BullAnt come to market as soon as possible, and it is our responsibility to make that happen. I believe there is a future for Australian manufacturing, and I sincerely hope we can make the BullAnt here. But most importantly, we must build it quickly, anyway and anywhere we can.”
“Cooling demand is projected to grow significantly globally, particularly in APAC where rising temperatures, rapid urbanisation, and economic growth demand new innovations in the HVAC industry” said Toby Chan, Partner and Co-founder at Audacy. “Conry Tech’s decentralised HVAC solution offers transformative potential, significantly reducing electricity consumption in commercial buildings and data centres. We’re proud to back Ron, Sam, and Brenda, three industry veterans with proven success in developing, scaling, and commercialising advanced HVAC technologies over the past 30 years. We look forward to assist the company to scale its solution globally, which offers significant decarbonisation potential whilst also increasing asset values for real asset owners and helping them to meet their sustainability goals.”
About Conry Tech
Based in Melbourne, Conry Tech is a climate and prop tech HVAC innovator founded by Ron Conry, Sam Ringwaldt and Brenda Ringwaldt, industry leaders who have already revolutionised the HVAC industry previously and have already saved over a gigaton of CO2 emissions. Conry Tech is on a mission to save another gigatons of CO2 emissions created by heating and cooling. Established in 2020, it is reinventing air-conditioning to make comfort sustainable, slash emissions, conserve energy, decarbonise the built environment, and enable a rapid transition to clean energy.
About Audacy
Audacy is a leading specialist climate tech investor, dedicated to catalysing and scaling solutions that will accelerate decarbonisation across the Asia Pacific region. Founded in 2017 by a team of experienced energy and infrastructure investment professionals, Audacy invests in early-growth stage technology companies that can provide cost-competitive solutions to replace fossil fuel incumbents.
Press Coverage:
https://www.smartcompany.com.au/startupsmart/australian-air-conditioner-conry-tech-raise-3-million/
https://www.startupdaily.net/topic/funding/air-conditioning-conry-tech-3-million-seed-round/