Accelsius secures $24m in Series A funding

Accelsius has announced the successful raise of $24 million pursuant to a Series A funding round. The Series A funding round started in early 2024.

“This investment is a testament to our team’s intense focus on operational innovation and technological ingenuity,” said Josh Claman, Accelsius’ CEO. “We believe that with AI’s rapid growth, we all must aim to make the surrounding infrastructure as efficient as possible. Liquid cooling is the future of data center cooling, and Accelsius is positioned to lead that future.”

Accelsius will use the funds to accelerate its plans for an international presence, continue to grow shipments and revenue in the U.S., and expand its professional teams across engineering, R&D, sales, marketing, manufacturing and operations. The company, recently selected as one of Austin Business Journal’s 2024 Best Places to Work, already employs some of the industry’s brightest and best thermal scientists and enterprise-grade system engineers.

Funding for this round has been provided from and privately raised by Innventure, Inc. (NASDAQ:INV), who founded Accelsius in June 2022. Innventure is a technology commercialization platform that founds, funds and supports the launch and scale of its companies with a focus on transformative technology solutions.

“From its beginning, Accelsius has exhibited all the qualities of a market disruptor,” said Bill Haskell, CEO of Innventure. “We are proud to see all the great progress that Josh and his team have made to produce critical infrastructure required to support the massive growth in data centers and related markets. To go from founding to revenue generation in less than three years is truly impressive, and we couldn’t be more excited for Accelsius’ future.”

Addressing Rising Energy Costs with Unmatched Thermal Performance

The worldwide AI boom has changed the equation for data center operators. For years, data centers remained relatively stable in their power consumption. But a ChatGPT query requires nearly 10 times as much electricity as a Google search, forcing operators to reckon with rapidly rising demand. Goldman Sachs Research estimates that data center power demand will grow 160% by 2030.

Accelsius' NeuCool system addresses the cooling challenges of modern data centers by delivering substantial gains in efficiency and sustainability. Compared to conventional cooling methods, NeuCool offers an estimated 50% reduction in energy use and a remarkable 10 times rack power density improvement, all while eliminating water consumption. Tested to handle thermal loads exceeding 2,200 watts per server chip (CPU, GPU), NeuCool is optimally suited for the high-powered servers that drive AI, machine learning, high-performance computing and other computationally intensive workloads prevalent in today’s data centers.