Barcelona-based Submer, a leader in immersion cooling technology, has raised €50.3 million ($55.5 million) in a growth funding round led by M&G.
The investment, part of M&G’s £5B Catalyst strategy, also saw participation from existing investors Planet First Partners, Norrsken VC, and Mundi Ventures. The capital will help Submer scale its operations and expand its global presence, particularly in the U.S. and APAC regions.
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Revolutionizing Data Center Cooling for AI Applications
Founded in 2015, the spanish startup aims to address the rising energy and water consumption in data centers, driven by the increasing power demands of AI applications. Traditional cooling methods are becoming inefficient, and Submer’s immersion cooling technology offers a sustainable alternative by reducing water usage and energy consumption. The company’s solution is key to creating efficient, eco-friendly data centers, supporting applications in AI, high-performance computing (HPC), and blockchain.
Expanding Global Footprint and Innovation
With operations in Barcelona and a Gigafactory in Houston, Texas, Submer is set to expand its product lineup, including the recently introduced SmartPod EXO, a hyperscale immersion platform with heat reuse capabilities. The company plans to use the new funding to enhance customer acquisition, scale infrastructure, and meet environmental regulations while accelerating global growth.
CEO Pol Valls emphasized the company’s commitment to sustainability, stating, “With this strong backing, we are well-positioned to lead the liquid immersion cooling market, scaling faster while driving meaningful impact in the industry.”
