Calgary's CoolIT Systems raises $6.2 Million led by iNovia Capital

Posted by Techvibes NewsDesk

Earlier this week Calgary's CoolIT Systems completed a $6.2 million series B growth financing led by existing investor iNovia Capital and new investor Chart Venture Partners, L.P. of New York.

"This financing will support the increased working capital and manufacturing capacity required by our rapidly growing delivery schedules," said Geoff Lyon, CEO & CTO of CoolIT Systems. "I'm particularly excited about our 2012 product line; where we're aiming to reduce data centre cooling costs by up to 70% while supporting density increases to over 30kW per rack."

"One of Henry Ford's most visionary moves one hundred years ago was the standardization of liquid cooling to solve heat related limitations as automobiles moved to mass production. The datacenter is at this same turning point, and we view CoolIT's solid experience and IP position working with liquid at a micro-scale as fundamental to future computing systems", said Shawn Abbott, Partner with iNovia Capital.

A pioneer of maintenance free liquid cooling technology, CoolIT delivers hundreds of thousands of reliable, cost-effective, high-performance cooling systems each year to system manufacturers, data centre operators and through its Corsair partnership to retail customers.

Company:
iNovia Capital
Website:
http://www.inovia.vc
Location:
Montréal, Québec, Canada

iNovia partners with exceptional entrepreneurs to build successful companies in high-growth sectors. The team is comprised of entrepreneurs and sector experts focused on Mobile, Internet and Digital Media. iNovia has offices in Montreal, New York City and Calgary and invests across North America. iNovia has $275M under management across three seed and early-­stage funds. For more information, visit www.inovia.vc... more

Company:
CoolIT Systems
Website:
http://www.coolitsystems.com
Location:
Calgary, Alberta, Canada

For years, CoolIT has been working with leaders in the computer industry to research, design, and provide an affordable new cooling product that provides a comprehensive solution for end users while exceeding high OEM standards. This carefully designed and patented technology unleashes the full potential of a PC, providing superior cooling performance while reducing system level noise and improving reliability of... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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