Iceotope raises £30m to keep data centres cool
Data centres produce a lot of heat – so much so that Microsoft has tried deploying them in containers on the seafloor. Keeping them cool, which is often done using noisy fans, guzzles lots of energy.
Sheffield-based company Iceotope has adopted a different strategy, claiming that its use of liquid immersion cooling technology is a low-cost strategy that also lowers carbon emissions in the IT infrastructure industry.
The Singapore-based investment firm ABC Impact, which oversaw the company’s funding round, noticed the British company after it raised £30 million in a Series B capital round. British Patient Capital, Northern Gritstone, Pavilion Capital, and current investor Edinv are additional participants in the round.
Through its Future Fund: Breakthrough, British Patient Capital, a division of the state-owned British Business Bank, funded £5 million in Iceotope. Iceotope is “exactly” the kind of company that Future Fund: Breakthrough, a £375 million programme to invest in growth stage UK enterprises, was “intended to help,” according to Judith Hartley, CEO of British Patient Capital.
Iceotope, which was founded in 2011, finished its $10 million Series A investment round in 2014. In order to provide modular integrated solutions for data centres, edge facilities, and high-performance computing applications, the company recently partnered with nVent.
“This significant investment, the largest amount so far invested in liquid cooling, is a testament to the great work of our designers, as well as the many technology and channel partners that have placed their trust in our ability to cool data centre servers more efficiently in a vertical rack form factor,” said David Craig, CEO of Iceotope Technologies.
Iceotope seems to be an interesting company with an innovative way of thinking. I’m sure this company will continue to succeed in its journey. Best wishes to the entire team at Iceotope. I look forward to seeing your future accomplishments.Shishir Gupta, Founder and CEO, StartupLanes
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