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October 12, 2023

Littleton data center cooling company raised $17M to respond to AI-driven demand

Photo | Courtesy of JetCool JetCool produces cooling technology for servers and data centers.

Littleton-based JetCool raised $17 million in series A funding to help meet a growing demand for cooling technology driven by artificial intelligence and high-density semiconductors.

Bosch Ventures, a subsidiary of German engineering titan Bosch Group, led the funding round along with In-Q-Tel of Virginia, and Boston-based investment firms Raptor Group and Schooner Capital. Bosch Ventures Investment Partner Adam Jackson will join JetCool’s board of directors, according to a Wednesday press release.

"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," JetCool CEO Bernie Malouin said in the press release. "With support from Bosch Ventures, IQT, and our current investors, JetCool is poised to meet this demand and revolutionize the cooling industry."

JetCool develops liquid cooling technology for high-performance computing infrastructure, like server systems and data centers.

The global data center liquid cooling market accounted for $2.25 billion in 2021 and is predicted to surge at a compound annual growth rate of 25.8% to reach a valuation of $31.07 billion by 2032, according to a report by New York-based Persistence Market Research, cited in the press release

In late spring, JetCool partnered with Dell to integrate its technology into some of the Texas-based tech giant’s servers. It partnered with chemical giant DuPont to open up new markets for its products in Asia. 

In May, JetCool received $1.2 million from the federal government as part of the ARPA-E Cooling Operations Optimized for Leaps in Energy, Reliability, and Carbon Hyperefficiency for Information Processing Systems (COOLERCHIPS) program.

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