Frore Systems has raised $143 million in a Series D funding round that values the liquid cooling vendor at $1.64 billion.

The new funding will accelerate the scale-up of Frore’s LiquidJet, LiquidJet Nexus, and AirJet products for data center and Edge deployments.

California-based Frore has now raised $340 million in total, and the Series D round was led by MVP Ventures, with participation from Fidelity Management & Research Company, Top Tier, Mayfield Fund, Clear Ventures, Addition, Qualcomm Ventures, StepStone Group, and Alumni Ventures.

Frore started life developing air cooling systems for mobile devices like smartphones that can’t accommodate a fan, and has more recently moved into liquid cooling for data centers.

Last week, it released LiquidJet Nexus, an integrated liquid cooling system for AI data centers. The company’s coldplate is designed using semiconductor manufacturing processes and is built to map the shape of chips such as Nvidia GPUs. Frore says this enables it to cool the chip’s hotspots more efficiently than standard coldplates.

By integrating this coldplate with the other components required to deliver the coolant, Frore claims it can eliminate the need for the hoses, connectors, and manifolds usually found in liquid cooling systems. This should unlock efficiency benefits and enable higher rack density.

“Cooling has become the single greatest limiter of AI performance,” said Dr. Seshu Madhavapeddy, founder and CEO of Frore Systems. “Traditional thermal technologies cannot keep pace with the AI revolution. Frore’s advanced cooling platforms remove that barrier - unleashing AI performance from cloud to Edge. We are thrilled by the continued confidence of our investors as we scale to meet global demand.”

Andre de Baubigny, managing partner at MVP Ventures, added: “Frore has built a breakthrough platform that unlocks higher compute density and efficiency across both hyperscale data centers and Edge environments. We believe thermal innovation will be a foundational layer of the AI infrastructure buildout, which is why we’re excited to continue backing Seshu and the Frore team as they scale globally.”