JetCool – a leading liquid cooling company for data centers – recently announced the successful closure of a $17 million Series A funding round. The funding round – which was led by Bosch Ventures (the corporate venture capital arm of the Bosch Group) – includes participation from leading technology investors such as In-Q-Tel, Raptor Group, and Schooner Capital.
This funding round will fuel global growth and further expand the company’s roadmap of next-generation liquid cooling solutions to match the growing demand for AI and high-density computing. And as part of the funding round, Bosch Ventures Investment Partner, Adam Jackson, will join JetCool’s board of directors.
This funding round comes at a time of intensifying demand for AI and high-density chips, where effective cooling solutions have become paramount. And the global data center liquid cooling market is rapidly growing, accounting for $2.25 billion in 2021 and it is predicted to surge at a CAGR of 25.8% to reach a valuation of $31.07 billion by 2032 (Persistence Market Research).
Given the popularity of AI-driven applications and dense chip architectures, JetCool’s patented microconvective liquid cooling technology is essential for addressing overheating, enhancing performance, and prolonging the lifespan of computing systems, ensuring they operate at their peak potential without compromising on efficiency or durability. And JetCool plays a pivotal role not only in powering high-performance computing and AI operations but also in leading sustainability efforts within the data center industry.
The funding round also follows two significant industry partnerships forged by JetCool. JetCool debuted its SmartPlate System for Dell Technologies’ next-generation PowerEdge servers in May. And by integrating JetCool’s advanced liquid cooling into Dell PowerEdge servers, customers can deploy liquid cooling within the space of a traditional air-cooled server, maximizing server investments while achieving superior computing performance. Then in June, JetCool announced a collaboration with DuPont to increase the adoption of advanced liquid cooling technology and create a sales channel to target semiconductor companies in Taiwan and Singapore.
KEY QUOTES:
“In the rapidly evolving tech landscape, with advanced AI platforms and complex chip designs, there’s an urgent need to address increasing heat, power, and water consumption in data centers. With support from Bosch Ventures, IQT, and our current investors, JetCool is poised to meet this demand and revolutionize the cooling industry.”
— Bernie Malouin, JetCool CEO
“When a technology that saves natural resources and energy aligns with a rapidly growing market demand, it’s crucial to seize this opportunity. JetCool is well positioned to significantly transform the liquid cooling industry on a global scale, and this capital infusion will help drive continued leadership and innovation in this emerging, but soon-to-be essential, technology category.”
— Dr. Ingo Ramesohl, Managing Director of Bosch Ventures
“IQT believes in investing in visionary startups and JetCool fits perfectly with this strategy. Demand for innovative liquid cooling solutions is being driven by increased water scarcity, and the rise in colocation and next-generation hyper data centers. We look forward to partnering with JetCool as they continue to grow their team, execute their go-to-market plan and take advantage of the tremendous global opportunity that lies ahead.”
— Jon Chait, Partner
