Iceotope raises $10m two years after entering administration

UK investment company Ombu Group provided the remaining capital. 

The firm will direct the fresh funding towards the commercialisation of its product, the hiring of new staff and expansion into international markets. Aster's support will enable the company to develop a relationship with Aster's strategic sponsor Schneider Electric. 

In 2009, YFM Private Equity and Enterprise Ventures committed £750,000 to the firm, according to unquote" data. The company went into administration in 2011, with both VCs writing off their investments. 

Later that year, Peter Hopton, the company's founder, bought the firm out of administration. 

Company
Founded in 2005 and based in Sheffield, Iceotope designs and manufactures eco-friendly cooling systems for use in information and communications technology. Its liquid cooling systems for data servers reduce the amount of CO2 produced by IT servers and systems. 

People
Jean-Marc Bally is managing director at Aster.  

Advisers
Equity - Brown Rudnick, Sophie McGrath, Alexander Riches (Legal).  

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Technology
• Expansion
• United Kingdom