Corintis, a Switzerland-based advanced startup specializing in chip cooling solutions has received $24 million in a Series A funding round. This new investment was led by Blue Yard Capital, and had Founderful, Acequia Capital, Celsius Industries and XTX Ventures as investors, among others. Following the funding round, the company was valued at $24 million, according to Reuters.
New cooling methods for chips are now in demand as AI chips consume unprecedented amounts of power, straining traditional systems. While most liquid cooling only pulls heat from the chip’s surface and leaves hot spots, Corintis says its technology channels liquid inside the chip itself to cool more efficiently and reduce power and water use.
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Corintis uses software to automate cooling systems and manufactures its cold plates — metal blocks that sit on top of chips and transfer heat into circulating liquid. “Right now, we are able to produce around 100,000 cold plates per year. Next year we are ramping up to around 1 million cold plates per year,” co-founder and CEO Remco van Erp told Reuters. The startup was spun off from Lausanne’s Federal Institute of Technology in 2022. It has shipped over 10,000 cooling systems and secured eight-digit revenue since its founding.
Following the latest funding, Corintis has added Intel CEO Lip-Bu Tan to its board. “Cooling is one of the biggest challenges for next-generation chips,” Tan said. “Corintis is fast becoming the industry leader in advanced semiconductor cooling solutions to address the thermal bottleneck.”
Corintis will use the new funds to expand its team to 70 by year-end from 55 currently, scale up manufacturing and open offices in the U.S., where many of its customers are based. The company aims to manufacture over a million microfluidic cold plates annually by 2026, with the potential to scale further as demand for advanced AI chips grows.
Another company Microsoft recently invested in is Nebius, an artificial intelligence infrastructure firm. Nebius had announced it had struck a multi-year deal with Microsoft to provide cloud computing power for AI workloads. The deal will be worth $17.4 billion through 2031 to Nebius, which counts Nvidia and Accel as its investors. Microsoft may also acquire additional computing capacity under the arrangement.
Nebius, which was spun out of Russian internet giant Yandex, provides graphic processing units and AI cloud as services. The company offers AI developers the computing, storage, managed services and tools they need to build, tune and run their AI models, with the help of its cloud software architecture and in-house designed hardware.