Asetek, Inc. announced that the company has completed its B Series of funding. D. E. Shaw Ventures has led the $16 million series B round bringing the total investment in Asetek to nearly $38 million since the company was founded in 2000.
According to Asetek, PCs are getting smaller, acoustics are becoming much more important, which means better thermal management is needed. People are tired of PCs sounding like jet engines when operating under load. Asetek states that it has a solution that solves the thermal challenges by cooling both the CPU and the graphics in the popular small form factor PCs. This thermal management technology is said to enable the small PC’s to now deliver the same performance that previously required large bulky chassis. Noise is also said to be minimized to provide a comfortable computing experience to the end user.
Asetek states that it enables a cost effective thermal solution that provides low acoustic noise together and high performance to be delivered in a small form factor chassis. This daunting capability is not possible with traditional thermal solutions that exist today.
"We are excited to participate with Asetek as it continues its strong growth in the thermal management arena,” stated Andre Turenne, a Senior Vice President at the D. E. Shaw group. "Asetek’s business relationships with premiere OEMs such as HP, Acer and other leading PC OEMs are an impressive accomplishment. This validated our belief in the company’s vision and future success."
"We are pleased by the confidence D. E. Shaw Ventures has demonstrated in our company’s technology and market directions,” stated Andre S. Eriksen, founder and CEO of Asetek. "The D. E. Shaw group’s distinguished staff and financial expertise are ideal to guide Asetek’s expansion and growth. We will use the additional capital to add sales, marketing and technical resources to enhance our product offerings and expand OEM thermal management products into new markets.
