Incooling closes 3.5-million-euro pre-Series A investment round with Pierburg Pump Technology.
Incooling was one of the first teams to complete the HighTechXL deep-tech venture building program in 2019. They announced their investment and distributed the following press release on January 16, 2023. It is published here with their permission.
Eindhoven, The Netherlands – Incooling, an Eindhoven-based company, has closed a 3.5-million-euro pre-Series A investment round with Germany-based Pierburg Pump Technology, part of the Sensors and Actuators Division of Rheinmetall AG. The investment, as well as the partnership, is not only another important step in Rheinmetall’s transformation into digital technologies and expansion into the data centre industry but is also aimed at supporting Incooling in bringing their next-generation server solutions to the market.
As virtual services are playing an ever-increasing role in the daily lives of companies and people, data centers are under extreme pressure to reduce their CO2 footprint and optimize the energy input that often comes from the cities’ own grids, all while fulfilling the demand for uncompromised performance. Incooling develops advanced 2-phase-cooled servers that achieve reliable, world class performance while significantly reducing energy consumption levels.
Incooling’s server systems are designed with phase change cooling technology and AI-based control systems that lower the temperature at which CPUs currently operate. This allows Incooling servers to achieve the fastest processor speeds with a lower energy consumption compared to what is currently available on the market. This is particularly beneficial for the most demanding applications such as artificial intelligence (AI), high performance computing (HPC), heavy R&D simulations and high frequency trading for banking solutions.
“This is an important, future-oriented partnership and investment for us in the context of our strategic transformation,” said Rene Gansauge, CEO of Rheinmetall’s Sensors and Actuators division. “The cutting-edge technology of Incooling represents a perfect complement to the competences of Rheinmetall. Rheinmetall will contribute with its expertise in thermal management, industrialization competence and as a technology partner. Together, we will create a digital and sustainable footprint.’’
Incooling found the partnership to be equally driven by both parties. “Raising an investment for hardware companies is not easy, especially when it comes to the semiconductor industry, said Incooling CEO Rudie Verweij. “We are so excited to partner up with a party that can not only provide capital but also support in creating a world class supply chain and offer unprecedented expertise in building ultra-reliable high-tech systems. We look forward to bringing our solutions to our pilot customers.”
In addition to the financial investment, Rheinmetall's Sensors and Actuators Division will also support Incooling with expertise in high quality manufacturing and assembly processes. The collaboration will utilize Rheinmetall’s operational excellence in magnifying the innovation of Incooling. Importantly, the investment reinforces Rheinmetall’s capabilities in five strategic technology clusters: automation, sensors, digitization, alternative mobility and artificial intelligence.
Incooling was founded after a joint initiative of Eindhoven Startup Alliance supported by ASML and Philips and led by HighTechXL’s deep-tech venture building program, to create strategically important ventures that strengthen the region’s position in the deep tech startup ecosystem. With a mission to cool down the planet one server at a time, Incooling adapted the unique properties of phase change cooling and created cooling systems dedicated to achieving the data centre industry's full potential.
Incooling has received multiple awards, including the CoSTA award (with ASML) and the Extreme Tech Challenge Enabling Tech Award and was most recently named a TechCrunch Disrupt Startup Battlefield 20 finalist in San Francisco, California.
For more information about Incooling, please visit www.incooling.com or to learn more about collaboration opportunities please email directly to email@example.com.