LiquidStack Secures $20 Million from Tiger Global to Bring Liquid Cooling to AI Data Centers on a Global Scale
CARROLLTON, Texas, Sept. 19, 2024 (GLOBE NEWSWIRE) -- LiquidStack, a global leader in liquid cooling for data centers, today announced that it has secured a $20 million Series B extension investment from leading investment firm Tiger Global, bringing LiquidStack’s total Series B funding round to $35 million. The full service liquid cooling provider will use the funds to expand its manufacturing footprint, scale its direct-to-chip and immersion cooling product family roadmaps, and broaden its commercial and R&D operations.
The data center thermal management market has seen extraordinary growth in response to the unprecedented levels of power and cooling required to support high performance computing and AI. According to research firm Dell’Oro Group, data center liquid cooling will enter the mainstream this year with a market value projected to surge to $15 billion over the next five years.
“Every industry has its eye on AI, and data centers are now looking to liquid cooling to enable hyperscalers and global enterprises to capitalize on the vast potential of AI technologies,” said Wahid Nawabi, Chairman of the Board of Directors at LiquidStack. “As a liquid cooling provider that not only offers both hybrid and holistic cooling approaches, but also has a proven track record of deploying these technologies on a very large scale, LiquidStack is well-positioned to be at the leading edge of a new era of data center infrastructure.”
LiquidStack offers a comprehensive portfolio of the industry’s most advanced, powerful and energy-efficient liquid cooling products and services. LiquidStack’s family of solutions includes:
- Direct-to-Chip Cooling: LiquidStack’s universally compatible coolant distribution unit (CDU) product line is built for advanced computing applications such as generative AI and HPC. The CDW-1MW is the inaugural product in the line, and is full-load tested and ETL, CSA and CE certified, with 1,350kW of cooling capacity.
- Single Phase Immersion Cooling: LiquidStack’s single phase immersion cooling solution offers advanced flow technology to optimize heat transfer and rejection, with system dimensions suitable for data center retrofit and modular containers.
- Two Phase Immersion Cooling: The most advanced cooling technology in the market, the space-saving two phase immersion solution enhances data center efficiency and features superior thermal management with minimal energy consumption, ideal for high-density server environments.
- Micro Data Centers: The MicroModular™ and MacroModular™ turnkey data centers offer 250kW of liquid cooling in a small modular container and 1.5MW of liquid cooling in a full modular container, suitable for local and regional edge, and 5G use cases.
- Full Lifecycle Services: Services include expert installation, proactive maintenance and continuous support.
All LiquidStack products are designed and manufactured in its state-of-the-art, U.S.-based facility in Carrollton, Texas, which opened in March 2024. The company is planning to expand its direct-to-chip CDU roadmap to align with the thermal trajectory of GPU and CPU chips. Additionally, LiquidStack will continue to invest in its two phase and single phase solutions to support use cases in which holistic liquid cooling is more suitable than hybrid approaches.
“Liquid cooling has reached a pivotal moment in its trajectory, and the support of Tiger Global is a testament to the unique benefits LiquidStack’s technology and approach offers the market,” said Joe Capes, CEO of LiquidStack. “This new round provides a funding pathway for LiquidStack to fulfill its ambition as a full service liquid cooling provider and continue to offer the highest quality and most reliable liquid cooling products and services to meet customer needs.”
Visit liquidstack.com to learn more about its portfolio of liquid cooling solutions and request a demo.
About LiquidStack
LiquidStack™ is the respected leader in liquid cooling for information technology hardware, telecommunications, and blockchain systems. Having pioneered the world’s highest density, most efficient, and sustainable liquid cooling solution in 2012, our advanced liquid cooling solutions continue to serve as the backbone for highly scalable and environmentally safe hyperscale, colocation, enterprise, edge, and blockchain data centers. LiquidStack’s universal direct-to-chip CDUs, DataTank™, EdgeTank™, CryptoTank™, MicroModular™ and MacroModular™ systems and services are enabling real-time advancement of computing and communications while supporting a sustainable planet. Learn more at liquidstack.com.
About Tiger Global Management
Founded in 2001, Tiger Global Management, LLC ("Tiger Global") is a New York-based investment firm pursuing a long-term approach to investing in leading, global public and private companies that leverage technological innovation. Tiger Global's public equity business includes fundamentally oriented long/short, long-focused and crossover strategies, targeting investments in high-quality, public growth companies. The private equity business invests in early through late stage companies that pursue innovative approaches to new and existing industries, building on over 20 years of experience investing in hundreds of businesses in more than 30 countries with more than 90 portfolio company IPOs. With a strong track record investing across sectors and stages, Tiger Global aims to be a thought partner to companies and their management teams across their lifecycle in public and private markets. The Firm's mission is to generate world-class returns for its investors and to do so in a way that makes its employees, partners and portfolio companies proud.
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