Breaking News: Iceotope Raises $26M for Liquid Cooling Technology
UK-based Iceotope Technologies Ltd. has closed a $26 million Series B funding round, co-led by Two Seas Capital and Barclays Climate Ventures. The investment underscores growing demand for energy-efficient cooling solutions in data centers.
'This funding accelerates our mission to make liquid cooling the standard for high-performance computing,' said David Craig, CEO of Iceotope. 'Data centers are under immense pressure to reduce energy consumption.'
Funding Details
The round includes participation from existing investors. Iceotope plans to use the capital to expand its product line and enter new markets, particularly in AI and hyperscale data centers.
'Iceotope's technology is a game-changer for sustainable data center operations,' said a spokesperson from Two Seas Capital. 'We are thrilled to support their growth.'
Background
Liquid cooling is increasingly critical as data center energy use soars. Traditional air cooling consumes up to 40% of a facility's power. Iceotope's patented immersion cooling systems reduce energy consumption by up to 50% compared to air cooling.
The startup was founded in 2011 in Sheffield, UK. It has since deployed systems with partners like Hewlett Packard Enterprise and Intel. The global data center liquid cooling market is expected to reach $8.5 billion by 2028.
What This Means
This investment signals a major shift toward sustainable infrastructure in the tech industry. With climate regulations tightening, data center operators must adopt efficient cooling solutions to meet net-zero targets.
'Liquid cooling is no longer niche—it's a necessity for modern computing,' added Craig. 'This funding will help us scale production and drive down costs.' The move also supports Barclays' climate venture strategy, focusing on technologies that reduce carbon emissions.