Phaidra raises funds for data center cooling control system

Industrial AI company Phaidra has raised $12 million for its data center cooling control system  from Index Ventures and will use the money for R&D, implementation, and go-to-market efforts.

“The data center industry is in the midst of an arms race to build new capacity wherever land and power are available,” Gao told the media. “Phaidra’s service can deliver a more stable cooling system that runs on less energy. We have our first international deployments up and running, and expect the higher energy cost regions of the world to fuel a lot of our growth in 2025,” Gao said. “Enterprises are seeking ways to do more with what they have … We’re well-positioned to execute our growth plan over the next two years.”

“This was an opportunistic raise that enabled Phaidra to bring Index Ventures to our board and cap table,” Gao said. “Although Phaidra was not actively seeking additional capital, we are especially excited about Index Venture’s scaling expertise as Phaidra expands rapidly with our industrial customers, particularly in the data center industry.”