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Chip Cooling Startup Corintis Raises $24 Million, Adds Intel CEO Lip-Bu Tan to Board

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Swiss startup Corintis, which develops advanced liquid cooling systems for semiconductors, announced it has raised $24 million in a Series A round and added Intel CEO Lip-Bu Tan to its board. The move comes as demand surges for efficient cooling solutions amid the AI-driven boom in high-power chips.

Corintis, based in Lausanne, was valued at about $400 million after the latest funding, a source told Reuters. The company’s technology has already been tested by Microsoft, a customer, which found it up to three times more efficient than conventional cooling systems.

Unlike traditional air-based systems—or most liquid cooling solutions that only draw heat from a chip’s surface—Corintis uses microscopic liquid channels etched inside the chip itself, allowing for more efficient heat removal while reducing power and water consumption.

The company designs its cooling systems using software automation and produces cold plates—metal blocks that transfer heat from chips into circulating liquid—in Europe. These can serve as drop-in upgrades for existing setups or be integrated directly into new chips.

“Right now we are able to produce around 100,000 cold plates per year. Next year we are ramping up to around 1 million,” co-founder and CEO Remco van Erp said. He launched the company in 2022 alongside COO Sam Harrison and another co-founder after spinning out of Lausanne’s Federal Institute of Technology.

The $24 million round was led by BlueYard Capital, with participation from Founderful, Acequia Capital, Celsius Industries, and XTX Ventures. Including earlier funding, Corintis has now raised $33.4 million.

Corintis also appointed Geoff Lyon, founder and former CEO of liquid-cooling firm CoolIT, to its board. Lip-Bu Tan joined as a director before becoming Intel’s CEO in March, and also serves as chairman of venture capital firm Walden International.

The new funds will support team growth—expanding to 70 employees by year-end from 55 today—scaling up manufacturing, and opening U.S. offices to be closer to major customers.