CoolIT Systems secures new financing

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By Ted Liu

CoolIT Systems, Inc., a Calgary based developer of Direct Contact Liquid Cooling (DCLC) for the Data Center and Desktop markets, has raised $655K in Series D and warrants from Chart Venture Partners and $1 million in loan and Series D warrants from Greg Peet’s Growpoint Capital.

The new financing follows a $1.31 million Series D funding from Chart Venture Partners in 2016.

Chart Venture Partners is a $100 million fund sponsored by Chart Group and US Army’s Armament Research, Development and Engineering Center (ARDEC).

iNovia Capital, an early backer of CoolIT, has not made any investment in the company since November 2015.