Today CoolIT systems announced they have secured a $6.2 Million Dollar financial package that will go a long way towards helping the company realize demand goals and product development. The funds primarily come from iNOVA Capital and AVAC Ltd.
CoolIT has experienced a large growth in demand with their latest product the Domino ALC. It has already been selected by several high-end system builders bent on getting the most thermal performance from a small and neat package. OEM partners using CoolIT products especially the Domino ALC Include Dell, Alienware, Velocity Micro, MAINGEAR, CyberPowerPC, Hypersonic, Commodore Gaming, Biohazard, Ultra, Ultraforce, Systemax, BFG, War Machine and even Shuttle.
According to Geoff Lyon, co-founder and CEO of CoolIT Systems - they selected iNOVA "because our business needs a strong, long-term capital partner that understands the market as well as the operational challenges due to rapid order growth from both channel and OEM partners. With the PC industry rapidly shifting towards liquid cooling, this financing allows CoolIT to expand the sales channels internationally and additionally facilitates strategic corporate initiatives including a key acquisition we are negotiating.
Although CoolIT has been a name in the world of self-contained cooling systems it was not until the release of the Domino ALC that CoolIT received so much attention. As newer CPUs from Intel and AMD have higher thermal demands the cooling market is growing as it stands now CoolIT's Domino ALC is one of the few small internal cooling systems capable of handling this new thermal load. This has helped them make headway in the market like they have not be able to do before. This finaicial boost could lead to even better products from CoolIT in the near future.