Iceotope is Solving Thermal Bottleneck at the Heart of Next-Generation AI Infrastructure

Iceotope, a data center liquid cooling solutions provider, led by Simon Jesenko and the team, has announced the close of a $26M series B funding round led by Two Seas Capital and Barclays Climate Ventures, along with participation by existing investors Edinv, ABC Impact, Northern Gritstone, and British Business Bank.

Iceotope Technologies will use the funding to advance product and engineering development, expand its patent portfolio, and accelerate ecosystem partnerships to bring its cooling solutions to market.

“Securing high-caliber investors validates both our technology and timing,” said Simon Jesenko. “Iceotope Technologies has built a differentiated IP portfolio and AI-focused products, and is now ready to scale as demand for advanced, sustainable cooling grows.”

AI infrastructure is reaching a thermal inflection point, with next-generation GPUs and accelerators pushing rack densities toward 1MW and beyond, beyond the limits of air and conventional liquid cooling.

Iceotope Technologies addresses this shift with precision liquid cooling, enabling high-efficiency operation across data center and edge environments while reducing energy and water consumption.

According to SemiAnalysis, the liquid-cooled AI accelerator installed base is projected to grow from ~3GW to 40GW within two years, driven by hyperscalers and colocation providers adopting AI workloads that exceed the limits of conventional cooling.

Iceotope Technologies’ precision liquid cooling technology also extends to edge deployments, where similar thermal constraints make advanced cooling essential.

“With AI adoption accelerating globally, Iceotope’s liquid-cooling technology addresses the limits of traditional cooling systems,” said Steven Poulter. “Iceotope Technologies is well-positioned to improve efficiency and sustainability in a rapidly growing AI and high-performance computing market.”