Lausanne-based Corintis, a Swiss semiconductor cooling startup, has raised $24 million in Series A funding, led by BlueYard Capital. The round also included participation from Founderful, Acequia Capital, Celsius Industries, and XTX Ventures, and values the company at approximately $400 million, according to a source familiar with the matter.

Founded to address the growing challenge of thermal management in high-performance chips, Corintis develops direct-to-chip liquid-cooling systems that channel coolant directly into processors.

This method offers greater efficiency than traditional air or surface cooling, helping prevent overheating in increasingly power-hungry semiconductors used for artificial intelligence, data centers, and advanced computing.

The latest funding brings Corintis’ total capital raised to $33.4 million, including earlier seed financing. Proceeds will support product development, scaling of production, and global expansion.

As part of the announcement, Intel CEO Lip-Bu Tan has joined Corintis’ board of directors. Tan, a longtime semiconductor executive and venture investor, adds strategic expertise as the company seeks to scale in a competitive and fast-growing market.

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With cooling systems consuming as much as 40% of data center energy, Corintis’ technology is positioned to address both performance efficiency and sustainability.

Its solutions come at a critical time, as AI workloads drive chip power demands to unprecedented levels, spurring competition among startups and established hardware providers in the thermal management space.