JetCool, a leading liquid cooling company for data centres, announced the successful closure of a $17 million Series A funding round. Led by Bosch Ventures, the corporate venture capital arm of the Bosch Group, the investment round includes participation from leading technology investors such as In-Q-Tel, Raptor Group, and Schooner Capital.
The funds will be used to 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. As part of its investment, Bosch Ventures Investment Partner, Adam Jackson, will join JetCool’s board of directors.
This investment comes at a time of intensifying demand for AI and high-density chips, where effective cooling solutions have become paramount. The global data centre liquid cooling market is rapidly growing; it accounted for $2.25 billion in 2021 and is predicted to surge at a CAGR of 25.8% to reach a valuation of $31.07 billion by 2032, according to Persistence Market Research.
“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 centres,” said Bernie Malouin, JetCool CEO. “With support from Bosch Ventures, IQT, and our current investors, JetCool is poised to meet this demand and revolutionise the cooling industry.”
JetCool’s patented microconvective liquid cooling® technology addresses overheating, enhancing performance, and prolonging the lifespan of computing systems, ensuring they operate at their peak potential without compromising on efficiency or durability. JetCool plays a pivotal role not only in powering high-performance computing and AI operations but also in leading sustainability efforts within the data centre industry.
“When a technology that saves natural resources and energy aligns with a rapidly growing market demand, it’s crucial to seize this opportunity,” said Dr. Ingo Ramesohl, Managing Director of Bosch Ventures. “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.”
“IQT believes in investing in visionary startups and JetCool fits perfectly with this strategy,” said Jon Chait, Partner. “Demand for innovative liquid cooling solutions is being driven by increased water scarcity, and the rise in colocation and next-generation hyper data centres. 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.”
