What are the latest funding news in the Data Center Cooling Market? (October 2026)
Whether you're building or investing in the data center cooling market, our report covers everything you need to know: the players, the money, and what's coming next.
Funding in the Data Center Cooling Market is increasingly following the rapid shift toward liquid cooling for high-density AI infrastructure.
The 12 deals in this review represent about $521.7M of disclosed financing, with most of the capital going to companies building direct-to-chip, immersion and cooling-distribution technologies.
Eight of the 12 financings were announced in 2026, showing how quickly investor activity has accelerated as AI rack densities create new thermal-management requirements.
And if you want to better understand this new industry, you can download our pitch covering the Data Center Cooling Market.
Insights
- The 12 disclosed Data Center Cooling funding deals total about $521.7M, but nearly 53% of that capital came from just two transactions, DCX and ZutaCore.
- Eight of the 12 deals were announced in 2026 and represented approximately $404M, or 77% of all disclosed capital in this group, showing a sharp acceleration in cooling investment.
- The median financing was only about $25.5M, despite several very large rounds, suggesting the Data Center Cooling Market still contains a broad mix of early-stage specialists and scaling infrastructure suppliers.
- Direct-to-chip liquid cooling appears across most of the recent funding activity, while traditional air cooling is almost absent from the startup financing set as AI server densities rise.
- Investors are financing more than cold plates. CDUs, coolant monitoring, heat rejection, microfluidic cooling and thermal-control software are becoming investable product categories around the liquid-cooling stack.
- Strategic industrial investors are unusually prominent. LITEON, Mitsubishi Electric, Carrier, Samsung, Johnson Controls and Legrand have all backed companies in this group, showing how established infrastructure suppliers are buying exposure to next-generation cooling.
- The largest deal, DCX's roughly $176M strategic investment, was more than 160 times larger than KühlTherm's $1.1M Seed round, illustrating how wide the maturity range remains across the market.
- Several funded companies are already moving beyond component sales toward complete rack or facility thermal architectures, which could make integration capability increasingly important as data centers adopt liquid cooling at scale.
Written by the New Market Pitch teamWe track new markets so founders and investors can move faster. About us
We follow the events that shape this market's funding. Get the full story in our data center cooling market report.
Summary table of the latest funding deals in the Data Center Cooling Market as of October 2026
We define the data center cooling market as systems that remove heat from servers and supporting equipment in data centers.
We include air cooling, liquid cooling, immersion systems, cooling distribution units and dedicated thermal-control equipment.
We exclude building comfort cooling, industrial refrigeration and power systems that do not provide data-center cooling.
| Name | When | Amount in $ | Round Type | Category |
|---|---|---|---|---|
| DCX Liquid Cooling Systems | September 3, 2026 | $176M | Strategic equity | CDUs & FDUs & direct-to-chip & immersion cooling |
| KühlTherm | July 16, 2026 | $1.1M | Seed | Direct-to-chip & CDUs & rear-door heat exchangers & immersion cooling |
| Omen AI | June 29, 2026 | $31M | Series A | Coolant monitoring & thermal-control instrumentation |
| ZutaCore | June 2, 2026 | $100M | Series C | Two-phase direct-to-chip liquid cooling |
| Iceotope | May 14, 2026 | $26M | Series B | Chassis-level precision liquid cooling |
| Enaxiom | May 6, 2026 | $1.8M | Seed | Heat rejection & closed-loop cooling |
| Lucend | January 26, 2026 | $3.3M | Seed | Cooling optimization & thermal-control software |
| Accelsius | January 12, 2026 | $65M | Series B | Two-phase direct-to-chip & CDUs |
| Corintis | December 2, 2025 | $25M | Series A1 | Microfluidic & in-chip cooling |
| Submer | October 3, 2024 | $55.5M | Series C / Growth | Immersion cooling & thermal architecture |
| LiquidStack | September 19, 2024 | $20M | Series B extension | Direct-to-chip & single-phase immersion & two-phase immersion |
| JetCool | October 11, 2023 | $17M | Series A | Microconvective direct-to-chip & cold plates & CDUs |
All the latest funding deals in the Data Center Cooling Market as of October 2026
DCX Liquid Cooling Systems raised about $176M in September 2026 through a strategic equity investment.
When was it?
The transaction was announced on September 3, 2026.
Who are they?
DCX Liquid Cooling Systems builds CDUs, facility distribution units, cold plates, manifolds and immersion systems for high-density AI and HPC data centers.
Geographical focus?
DCX is headquartered and manufactures in Poland while serving hyperscale, colocation and enterprise customers internationally.
Why do we include them in the Data Center Cooling Market?
DCX belongs in the Data Center Cooling Market because its core business is dedicated liquid-cooling infrastructure, including direct-to-chip, CDU, FDU and immersion systems.
What is the company stage?
DCX is at the growth and large-scale commercial deployment stage, with substantial cooling capacity already shipped or under contract.
How much did they raise?
DCX received an investment of approximately $176M for a roughly 25% equity stake.
What round is it?
DCX completed a strategic corporate equity investment rather than a conventional numbered venture round.
Why did they raise?
DCX raised the capital to expand manufacturing, engineering and international sales while integrating its cooling technology more closely with LITEON's AI infrastructure portfolio.
In many markets, a handful of startups take most of the money. Our data center cooling market report shows who's getting the biggest slice.
KühlTherm raised $1.1M in July 2026 to develop and commercialize its liquid-cooling platform.
When was it?
KühlTherm's Seed financing was publicly reported on July 16, 2026.
Who are they?
KühlTherm develops direct-to-chip cold plates, CDUs, rear-door heat exchangers and related liquid-cooling systems for AI data centers.
Geographical focus?
KühlTherm is based in Ahmedabad, India, with an initial focus on India's expanding data-center market and longer-term international ambitions.
Why do we include them in the Data Center Cooling Market?
KühlTherm is a clear Data Center Cooling Market company because cooling hardware and controls represent the core of its product proposition.
What is the company stage?
KühlTherm is at the early commercial and post-prototype stage, with product development, testing and certification still being scaled.
How much did they raise?
KühlTherm raised $1.1M in the financing.
What round is it?
KühlTherm's financing was a Seed round.
Why did they raise?
KühlTherm raised the money to accelerate R&D, testing, certifications, engineering recruitment, business development and commercial partnerships.
Omen AI raised $31M in June 2026 to scale continuous coolant monitoring for liquid-cooled AI infrastructure.
When was it?
Omen AI announced its Series A on June 29, 2026.
Who are they?
Omen AI builds rack-mounted sensors that continuously measure coolant chemistry, pressure and temperature inside liquid-cooled AI data centers.
Geographical focus?
Omen AI is U.S.-based and primarily targets operators of AI infrastructure and high-density data centers.
Why do we include them in the Data Center Cooling Market?
Omen AI belongs in the market through the coolant-monitoring and thermal-control instrumentation category that supports reliable operation of liquid-cooling loops.
What is the company stage?
Omen AI is at the PMF and early-growth stage, with commercial data-center customers and manufacturing being expanded.
How much did they raise?
Omen AI raised $31M in this financing.
What round is it?
Omen AI's financing was a Series A.
Why did they raise?
Omen AI raised the capital to expand manufacturing and engineering as operators increasingly require continuous monitoring of liquid-cooling systems.
ZutaCore raised $100M in June 2026 to accelerate commercial deployment of its waterless liquid-cooling technology.
When was it?
ZutaCore announced the financing on June 2, 2026.
Who are they?
ZutaCore develops a sealed two-phase direct-to-chip system in which dielectric fluid boils at hot processors and then condenses for reuse.
Geographical focus?
ZutaCore operates globally, with its headquarters in the U.S., R&D activities in Israel and commercial presence across several major data-center markets.
Why do we include them in the Data Center Cooling Market?
ZutaCore is a pure Data Center Cooling Market company focused on two-phase direct-to-chip liquid cooling for AI and HPC servers.
What is the company stage?
ZutaCore is at the growth and global commercialization stage, with its technology already deployed across dozens of operating environments.
How much did they raise?
ZutaCore raised $100M in the financing.
What round is it?
ZutaCore's financing was a Series C.
Why did they raise?
ZutaCore raised the money to expand global commercialization and continue developing cooling systems for increasingly powerful AI and HPC processors.
Price is often what holds a market back. See how fast that's changing in our data center cooling market report.
Iceotope raised $26M in May 2026 to expand its precision liquid-cooling technology and OEM ecosystem.
When was it?
Iceotope announced the financing on May 14, 2026.
Who are they?
Iceotope designs chassis-level liquid cooling that removes heat from CPUs, GPUs, memory, storage and power components inside computing systems.
Geographical focus?
Iceotope is headquartered in Sheffield in the UK and works with OEM and ODM partners serving global AI, HPC, edge and data-center customers.
Why do we include them in the Data Center Cooling Market?
Iceotope belongs in the Data Center Cooling Market because precision liquid cooling is the company's core technology and intellectual property.
What is the company stage?
Iceotope is at the growth and technology-licensing scale-up stage, with mature intellectual property and established industry partnerships.
How much did they raise?
Iceotope raised $26M in the financing.
What round is it?
Iceotope's financing was a Series B.
Why did they raise?
Iceotope raised the capital to advance engineering, expand its patent portfolio and accelerate partnerships that embed its cooling technology into commercial infrastructure products.
Enaxiom raised about $1.8M in May 2026 to commercialize a water-efficient heat-rejection system for data centers.
When was it?
Enaxiom's financing was publicly reported on May 6, 2026.
Who are they?
Enaxiom develops HydroCool, a closed-loop system designed to reject data-center heat while reducing evaporative water losses and recovering useful resources.
Geographical focus?
Enaxiom is based in Australia, with an initial domestic focus and explicit plans to expand into the U.S. data-center market.
Why do we include them in the Data Center Cooling Market?
Enaxiom belongs in the heat-rejection and closed-loop cooling category because HydroCool directly manages heat on the facility side of the data-center cooling system.
What is the company stage?
Enaxiom is moving from pilot deployments toward early commercial scale.
How much did they raise?
Enaxiom raised approximately $1.8M, equivalent to A$2.5M.
What round is it?
Enaxiom's financing was a Seed round.
Why did they raise?
Enaxiom raised the capital to launch commercial deployments, hire additional employees and support expansion into the U.S.
Lucend raised $3.3M in January 2026 to expand its AI-based data-center cooling optimization platform in the U.S.
When was it?
Lucend announced its financing on January 26, 2026.
Who are they?
Lucend, formerly Coolgradient, analyzes existing data-center sensor data and recommends cooling and power-setting changes that improve operating efficiency.
Geographical focus?
Lucend originated in the Netherlands and is using the financing to build a stronger commercial presence in the U.S.
Why do we include them in the Data Center Cooling Market?
Lucend belongs in the cooling optimization and thermal-control software category because its platform directly manages and improves the performance of installed data-center cooling infrastructure.
What is the company stage?
Lucend is at the PMF and early-growth stage, with established data-center operators already using its technology.
How much did they raise?
Lucend raised $3.3M in the financing.
What round is it?
Lucend's financing was a Seed round.
Why did they raise?
Lucend raised the money primarily to establish its U.S. commercial operation and expand adoption among American data-center operators.
Building in this space? See which segments investors favor in our data center cooling market report.
Accelsius raised $65M in January 2026 to scale its two-phase direct-to-chip cooling platform for AI infrastructure.
When was it?
Accelsius announced the financing on January 12, 2026.
Who are they?
Accelsius develops NeuCool, a two-phase direct-to-chip system using non-conductive refrigerant alongside rack-level cooling and CDU products.
Geographical focus?
Accelsius is based in Austin, Texas, while actively expanding its manufacturing and commercial presence internationally.
Why do we include them in the Data Center Cooling Market?
Accelsius is a dedicated Data Center Cooling Market company focused on two-phase direct-to-chip systems and cooling distribution equipment for high-density AI environments.
What is the company stage?
Accelsius is at the growth and deployment scale-up stage, with production expansion and large commercial projects underway.
How much did they raise?
Accelsius raised $65M in the financing.
What round is it?
Accelsius's financing was a Series B.
Why did they raise?
Accelsius raised the capital to expand manufacturing in Austin, accelerate international expansion and deploy NeuCool at larger AI infrastructure projects.
Corintis raised $25M in December 2025 to scale its microfluidic chip-cooling technology for AI data centers.
When was it?
Corintis announced the financing on December 2, 2025.
Who are they?
Corintis develops microfluidic cold plates and co-packaged cooling systems that route coolant through tiny channels designed around the hot spots of individual chips.
Geographical focus?
Corintis is headquartered in Switzerland and is expanding its operations and customer relationships across Europe and the U.S.
Why do we include them in the Data Center Cooling Market?
Corintis belongs in the microfluidic and in-chip cooling category because its core technology is specifically designed to remove heat from high-power AI and HPC processors.
What is the company stage?
Corintis is at the PMF and early scale-up stage, moving from successful technical deployments toward larger manufacturing volumes.
How much did they raise?
Corintis raised $25M in the financing.
What round is it?
Corintis described the financing as a Series A1.
Why did they raise?
Corintis raised the money to increase manufacturing capacity, expand internationally and accelerate commercial deployment with technology and data-center customers.
Submer raised $55.5M in October 2024 to expand adoption of its immersion-cooling systems for AI data centers.
When was it?
Submer announced the financing on October 3, 2024.
Who are they?
Submer developed immersion systems that place servers in engineered dielectric fluid to remove heat from dense AI and HPC computing environments.
Geographical focus?
Submer was founded in Barcelona and operates internationally, including a significant presence in the U.S.
Why do we include them in the Data Center Cooling Market?
Submer belongs in the immersion-cooling and thermal-architecture category, which represented the large majority of its business when this financing was announced.
What is the company stage?
Submer was already at the growth and commercial-scale stage when the financing closed.
How much did they raise?
Submer raised $55.5M in the financing.
What round is it?
Submer's financing was commonly described as a Series C or growth round.
Why did they raise?
Submer raised the capital to expand internationally, win new customers and support growing deployment of immersion cooling as AI rack densities increased.
How big is this market really? Our data center cooling market report sizes it with numbers you can check.
LiquidStack raised $20M in September 2024 to expand manufacturing and its direct-to-chip and immersion cooling portfolio.
When was it?
LiquidStack announced the financing on September 19, 2024.
Who are they?
LiquidStack develops direct-to-chip, single-phase immersion and two-phase immersion cooling equipment alongside modular liquid-cooled data-center systems.
Geographical focus?
LiquidStack manufactures in Texas and serves AI and HPC data-center customers globally.
Why do we include them in the Data Center Cooling Market?
LiquidStack is a dedicated Data Center Cooling Market supplier focused on direct-to-chip and immersion cooling technologies.
What is the company stage?
LiquidStack was at the growth and commercial-scale stage when this financing was announced.
How much did they raise?
LiquidStack raised $20M in this extension, bringing its total Series B financing to $35M.
What round is it?
LiquidStack's financing was a Series B extension.
Why did they raise?
LiquidStack raised the money to expand manufacturing, develop its cooling product portfolio and grow commercial and R&D operations.
JetCool raised $17M in October 2023 to scale its microconvective direct-to-chip cooling technology globally.
When was it?
JetCool announced its Series A on October 11, 2023.
Who are they?
JetCool developed microconvective liquid cooling that directs coolant jets toward processor hot spots and supports cold plates, CDUs, servers and rack-level systems.
Geographical focus?
JetCool was based in the U.S. while selling and partnering internationally across the AI and HPC infrastructure market.
Why do we include them in the Data Center Cooling Market?
JetCool was a pure-play Data Center Cooling Market company focused on direct-to-chip liquid cooling, cold plates and associated rack infrastructure.
What is the company stage?
JetCool was at the PMF and early-growth stage, with commercial technology partnerships already established before its later acquisition by Flex.
How much did they raise?
JetCool raised $17M in the financing.
What round is it?
JetCool's financing was a Series A.
Why did they raise?
JetCool raised the money to fund international growth, expand R&D and develop additional cooling products for increasingly dense AI and HPC systems.
How many people actually use this today, and how many will tomorrow? See it in our data center cooling market report.
Written by the New Market Pitch teamWe track new markets so founders and investors can move faster. About us