Silicon Valley startup Frore Systems has raised $143 million in a Series D round, achieving a $1.64 billion valuation. The funding, led by MVP Ventures with participation from Fidelity, Mayfield, Top Tier, and Qualcomm Ventures, will expand manufacturing for its cutting-edge chip cooling systems.
AI chips generate extreme heat, degrading performance and efficiency. Traditional cooling methods can't keep up. Frore’s solution-initially built for smartphones-has pivoted to serve the booming AI data center market after Nvidia CEO Jensen Huang urged the founders to scale it for GPUs.
Its new LiquidJet Nexus tray uses 3D liquid channels to circulate coolant directly around processors, outperforming flat cold plates. The system is lighter, thinner, fanless, and dust-free-enabling denser, cooler, more energy-efficient server racks.
“Traditional thermal technologies cannot keep pace with the AI revolution,” said co-founder Sesh Madhavapeddy. MVP Ventures’ Andre de Baubigny called Frore’s platform “a foundational layer of AI infrastructure.”
The company, founded by ex-Qualcomm engineers, currently manufactures in Taiwan and plans to add global capacity to meet demand from cloud providers, enterprises, and government computing networks.