- Iceotope, a company from Sheffield, has raised $26 million in Series B funding led by Two Seas Capital and Barclays Climate Ventures
- Iceotope’s technology solves power demands in new AI infrastructure
- Iceotope’s edge is its 219 granted and pending patents and a chassis design that cools every component in the rack
Iceotope has secured $26 million in Series B funding, led by Two Seas Capital and Barclays Climate Ventures, to expand its precision liquid cooling technology for advanced AI data centres
For almost twenty years, Iceotope has worked on a cooling solution for places where standard systems do not work. As AI workloads increase and rack power reaches 1MW or more, air and direct-to-chip liquid cooling are no longer enough. Iceotope’s chassis-based liquid cooling keeps hardware running efficiently, even in edge locations outside regular data centres, where managing heat is often a challenge.
SemiAnalysis predicts that liquid-cooled AI accelerators will increase from about 3 GW to 40 GW in two years. The rise comes as major cloud providers and colocation centres adopt more AI workloads that traditional cooling cannot handle. Data centres already account for a significant share of global electricity use, and this share will rise as AI capacity grows.
Iceotope started in 2005 as a research-focused green computing company and now holds 219 granted and pending patents for its liquid cooling technology. Led by Simon Jesenko, who is both CEO and CFO, the company offers a chassis-based system that cools all parts of the infrastructure, not just the chips. The system is almost silent and uses very little water, which matters more as data centres face water shortages, sustainability rules, and power limits.
Players Vertiv, LiquidStack, Asetek, and chip-level cooling startup Corintis are all competing for the same infrastructure wave. Iceotope’s edge is its 219 granted and pending patents and a chassis design that cools every component in the rack, which also makes it one of the few options that works reliably at the edge, where most rivals have little presence.
“With AI adoption rapidly increasing globally, Iceotope’s liquid-cooling technology offers a timely and innovative solution to the mounting limitations of traditional cooling systems. Its approach not only meets the escalating demands of AI and high-performance computing but also materially advances datacenter sustainability,” says Steven Poulter, head of Barclays Climate Ventures.
Iceotope will use the $26 million to develop its products and engineering capabilities, expand its patent portfolio, and accelerate partnerships to bring its cooling solutions to market.
