Eight-year-old semiconductor startup Fror Systems has raised Series D of $143 million led by MVP Ventures at a valuation of $1.64 billion. announced On Monday.
Fror has now raised a total of $340 million, the company said. Fryer doesn’t make the chips himself; It creates liquid cooling systems for them. Founded by two former Qualcomm engineers, the company’s technology was initially created to offer air-cooling technology for phones and other small fanless electronics.
The company’s focus on chips was inspired by Nvidia CEO Jensen Huang, who received a demo of the technology about two years ago. Bloomberg reported. Huang suggested they develop liquid-cooling alternatives, which are essential for AI chips and systems. So they released products that work with different Nvidia chips and boards. The company has also developed products for Qualcomm and AMD.
AI has been a hot area for semiconductor investment. Other new unicorns in the field nvidia competitor positronwhich achieved a valuation of $1 billion in February; recursive intelligence Which achieved a valuation of $4 billion right out of the gate. Eridu has also just launched $200 million Series A round (though it declined to disclose its valuation), to create new AI networking chips.
Investors participating in Fror’s latest round include Fidelity, Mayfield, Edition, Qualcomm Ventures and Alumni Ventures.
