Iceotope Group, a leading provider of precision liquid cooling technology solutions, has closed a £20 million Series B funding round.
The investment was led by Two Seas Capital and Barclays Climate Ventures along with participation by existing investors Edinv, ABC Impact, Northern Gritstone and British Business Bank.
The Sheffield firm will use the funding to advance product and engineering development, expand its patent portfolio and accelerate ecosystem partnerships that will bring solutions incorporating Iceotope technology to market.
“Securing such high-calibre investors validates both our technology and our market timing,” stated Simon Jesenko, CEO and CFO of Iceotope.
“We’ve spent years developing a robust, differentiated IP portfolio and products purpose-built for AI infrastructure, and we’re ready to scale at precisely the moment the industry demands more advanced, sustainable cooling technology.
“The opportunity ahead – both directly with customers and through our partner ecosystem – is significant.”
AI infrastructure is approaching a thermal inflection point. Next-generation GPU and accelerator platforms are driving rack power densities toward 1MW and beyond, rendering air cooling and direct-to-chip liquid cooling insufficient.
As AI and high-performance computing (HPC) move beyond the data center into widescale deployments in the enterprise and at the edge, the thermal challenge of cooling the hardware is moving with it.
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Iceotope’s precision liquid cooling technology enables systems to operate at maximum efficiency in any environment, while significantly reducing energy use and water consumption required for cooling.
“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,” said Steven Poulter, head of Barclays Climate Ventures.
“Its approach not only meets the escalating demands of AI and high-performance computing but also materially advances datacenter sustainability. Aligned with Barclays Climate Ventures’ mandate to invest in commercially scalable climate technologies, we believe Iceotope is strongly positioned in a growing market and capable of significantly improving energy efficiency in a critical sector.”
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