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Tech firm that relocated its HQ to DFW lands $20 million investment as AI expands

Tiger Global, a large player in VC, is backing LiquidStack, which provides products for data centers, in Carrollton.

After relocating its home base to North Texas from Massachusetts earlier this year, a Carrollton company has attracted funding from a New York firm with experience in the tech community.

LiquidStack, which helps data centers with liquid cooling as they tackle artificial intelligence, has secured $20 million from Tiger Global in a Series B extension, according to a statement on Thursday. The investment firm is among the top 10 global venture backers, according to Dealroom. Tiger Global rose in prominence several years ago as an early investor in Facebook among others.

The new funding for LiquidStack brings the total Series B funding round to $35 million. Overall, funding for LiquidStack is $45 million to date, Joe Capes, CEO of the company, said in an emailed statement.

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As demand grows for AI capabilities, LiquidStack will use the fresh investment for its manufacturing footprint, to scale product roadmaps and broaden its commercial and research and development operations.

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”Liquid cooling has reached a pivotal moment in its trajectory, and the support of Tiger Global is a testament to the unique benefits LiquidStack’s technology and approach offers the market,” Capes said in the public statement. “This new round provides a funding pathway for LiquidStack to fulfill its ambition as a full-service liquid cooling provider.”

LiquidStack is looking to take additional space in the Carrollton area this year, Capes said in the email. The company announced in March a new headquarters and manufacturing facility in North Texas.

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“Carrollton offers excellent facilities and logistics, high-skilled labor and a pro-business environment, while still maintaining a small town feel,” Capes said. “LiquidStack looks forward to creating additional jobs and opportunities in the community.”

LiquidStack is helping data centers with multiple products and services. For example, it offers direct-to-chip cooling that’s built for advanced computing applications such as generative AI. It also provides “two-phase immersion cooling,” a space-saving product that enhances data center efficiency and features thermal management with minimal energy consumption that’s designed for high-density server environments.

“Every industry has its eye on AI,” Wahid Nawabi, chairman of the board of directors at LiquidStack, said in a statement.

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