$55.5M growth round to boost Submer’s "greener" datacenters

Submer has raised $55.5M led by M&G. The investment comes from its £5 billion purpose-led Catalyst strategy, with Barclays Bank Ireland PLC acting as the placement agent to Submer. Among existing investors, Planet First Partners and Norrsken VC reinvested alongside M&G, and together with Mundi Ventures, reaffirmed their support as strong backers of Submer’s strong financial position and growth potential.

In the age of rising chip Thermal Design Power (TDP) with demand being driven by innovative applications such as AI, datacenters are consuming vast amounts of energy and water. 

With traditional air-cooling and other liquid cooling methods becoming increasingly inadequate, immersion cooling emerges as the sustainable and scalable solution to help solve these key challenges.

Submer is on a mission to build sustainable waterless datacenters and lead the way to a greener future, to make a difference and contribute to a fairer, more efficient, planet-friendly datacenter industry landscape. Fueling Growth and Global Expansion

Now at a pivotal scale-up stage, this new investment ushers Submer into its next phase of growth. The funds will enable the company to capitalize on new business opportunities, boost customer acquisition, and support clients in their growing infrastructure needs while complying with environmental regulations.

Submer has already outlined plans for global expansion, with an immediate focus on increasing its presence in key markets such as the U.S. and APAC regions.

Pol Valls, Founder & CFO at Submer, “We are grateful for the strong interest from investors and are thrilled to partner with the ones who align with our sustainability values. With this strong backing, we are very well positioned to continue to lead the liquid immersion cooling market and meet the growing demands of hyperscale data centers, enabling us to scale faster with our customers, while remaining focused on driving both growth and meaningful impact in our industry.”

All 3 investors – M&G Catalyst, Planet First Partners, and Norrsken VC – share Submer’s commitment to sustainability and environmental responsibility. Their support not only accelerates the company’s growth but also aligns with the growing demand for greener solutions in the tech industry. These investors are aligned with Article 9 of the European Union’s Sustainability Financial Disclosure Directive (SFDR) and its Green Taxonomy. Article 9 defines which companies have a positive impact, which helps the market and investors funnel their investments towards sustainable options.

M&G’s investment was made by Catalyst, the firm’s £5 billion purpose-led flexible private assets strategy, which invests in innovative solutions to some of the world’s biggest environmental and social challenges on behalf of the £126 billion Prudential With-Profits Fund and its circa 5 million customers.

Global Head of Catalyst Investments at M&G, Niranjan Sirdeshpande, says: “As the global demand for AI and data capacity accelerates, we see Submer's technology as a critical solution to alleviate the intensive energy and water requirements of digital infrastructure. We are excited to be supporting the company at this important time as they scale their products and services globally.”