A Pittsburgh startup tackling one of high-performance computing’s biggest challenges — overheating — has landed a major investment to bring its tech to market.
Spun out of Carnegie Mellon University in 2024, NovoLINC makes a thermal interface material (TIM), which keeps powerful chips from getting too hot. The startup has secured $10.2 million, according to a filing on June 9 with the US Securities and Exchange Commission.
“Our team is collaborating closely with industrial partners to accelerate the manufacturing scale-up and the commercialization of our technology to meet the surging needs of high-power computing and sustainable AI data center operations,” cofounder and CEO Ning Li said in a prepared statement.
NovoLINC did not immediately return Technical.ly’s request to comment on the raise to confirm the amount.
The date of first sale, or when investors committed to the deal, is marked as Dec. 8, which aligns with an announcement the startup made that same month that it closed an oversubscribed seed round to accelerate the commercialization of its tech.
In the announcement, NovoLINC said the round was co-led by Fathom Fund and TDK Ventures, with other investors like Foothill Ventures, M Ventures, Carnegie Mellon University and Hitachi Ventures also participating.
The funding will help the company scale manufacturing, expand research and development and grow the business to meet rising customer demand, according to the press release.
Meeting the moment
The powerful chips used for artificial intelligence and advanced computing generate enormous amounts of heat, which must be quickly moved away for systems to run safely and efficiently.
As those chips get more powerful, conventional TIMs are struggling to keep up, according to NovoLINC.
The startup says its technology stands out because it transfers heat far more efficiently than existing materials, making it especially well-suited for the industry’s shift toward liquid cooling.
By 2030, NovoLINC estimates its technology could cut more than 30 terawatt-hours of energy use each year for data centers. That’s roughly enough electricity to power about 2.8 million US homes annually, based on average household consumption data from the US Energy Information Administration.
“As 40% of a data center’s energy consumption goes toward cooling, NovoLINC is tackling one of the most pressing technical challenges in the industry,” Tina Tosukhowong, investment director at TDK Ventures, said in a prepared statement.
Since launching, NovoLINC has gained some industry recognition through acceptance into the Open Compute Project Startup Member Program, NVIDIA Inception Program and being named a Pittsburgh Technology Council top 50 honoree.
