Liquid cooling firm ZutaCore has secured $100 million in a Series C funding round.

The company, which offers waterless, direct-to-chip, two-phase liquid cooling, announced the funding round this week.

Investors in the round included Mitsubishi Electric, Carrier Ventures, and Samsung Electronics (via its CVC arm, Samsung Ventures), alongside additional investors.

ZutaCore said the funds will support global commercialization and expansion, as well as R&D efforts.

ZutaCore uses closed-loop two-phase cooling; a version of liquid cooling in which the coolant is allowed to boil and condense (changing its phase), removing heat more effectively than simply using heat conduction. Taiwanese IT infrastructure provider Wiwynn and HVAC firm Carrier are investors in the company.

ZutaCore’s waterless two-phase cooling platform is designed to support next-generation AI and HPC processors exceeding 4,000 watts. The company said it has been deployed in more than 75 environments worldwide, across the Americas, Europe, and Asia.

As part of the funding announcement, the company has appointed Yaniv Reinhold as CFO, Sharon Shafran as COO, Yoni Nir as chief R&D officer, and Sarah Warshavsky Oberman as chief people officer

Erez Freibach, chairman and CEO of ZutaCore, said: "$100m of funding reflects strong validation from leading global partners and growing demand for our technology. AI is fundamentally reshaping data center infrastructure, and traditional approaches are no longer sufficient. With our expanding leadership team and continued innovation, we are well-positioned to support the next generation of high-performance, sustainable data centers.”

Goldman Sachs G Co. LLC is serving as the exclusive placement agent to ZutaCore in connection with its Series C capital raise.