Another deep tech chip startup becomes a unicorn: Frore hits $1.64B

Frore Systems, a semiconductor cooling startup founded by ex-Qualcomm engineers, raised a $143M Series D at a $1.64B valuation, bringing total funding to $340M. Originally focused on air-cooling for small electronics, the company pivoted to liquid cooling for AI chips after a suggestion from Nvidia CEO Jensen Huang. The round was led by MVP Ventures with participation from Fidelity, Mayfield, Qualcomm Ventures, and others.