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Frore Systems Raises $143 Million, Hits $1.64 Billion Valuation on AI Cooling Push

Proceeds target a global rollout of LiquidJet, LiquidJet Nexus, AirJet to lift compute density.

Overview

  • Series D financing was led by MVP Ventures with participation from Fidelity, Top Tier, Mayfield, Clear Ventures, Addition, Qualcomm Ventures, StepStone and Alumni Ventures.
  • Frore says the capital will accelerate deployments and expand manufacturing beyond its current base in Taiwan.
  • The company frames heat removal as an AI “Thermal Stack” constraint that limits performance, positioning its platforms to improve density and efficiency.
  • Its lineup includes LiquidJet and the LiquidJet Nexus tray for data‑center GPUs and boards, plus AirJet for thin, fanless edge devices.
  • Performance gains cited — such as higher heat transfer efficiency, cooler GPUs, improved tokens per second and lower PUE — are company‑reported, and specific customer names have not been disclosed.