Observed Signal · Oct 3, 2024 · Funding · Source: Tech.eu · Impact: 3/5 · Sentiment: Positive
Submer Raises $55.5M for Greener AI Datacenters
Submer, a provider of immersion cooling technology for datacenters, has secured $55.5M in a growth funding round led by M&G's Catalyst strategy. Planet First Partners and Norrsken VC reinvested, with Mundi Ventures also participating. The funds will support global expansion, focusing on the US and APAC, and help meet the rising demand for sustainable, waterless datacenter solutions driven by AI workloads. Barclays Bank Ireland PLC acted as placement agent. The company aims to alleviate the energy and water intensity of digital infrastructure, aligning with EU sustainability regulations.
Funding round for sustainable datacenter cooling technology supports AI infrastructure growth, relevant to the tech ecosystem.
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Key Takeaways & Evidence Grounding
- Submer raised $55.5M in a growth round led by M&G.
- Planet First Partners, Norrsken VC, and Mundi Ventures participated in the round.
- M&G's investment came from its £5 billion Catalyst strategy.
- The funds will be used for global expansion, targeting US and APAC markets.
- Submer provides immersion cooling technology for waterless datacenters.
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