Qarnot Computing raises €6m to boost R&D activity
Qarnot Computing has closed its Series B funding round at €6 million in a bid to accelerate the company’s future growth.
A syndicate of investors including Banque des Territoires, Caisse des Dépôts, Engie Rassembleur d’Énergies, A/O PropTech, and Groupe Casino, have invested €6 million in Qarnot Computing.
The company sells cloud computing capacity to its clients and uses the wasted heat generated from its computer servers to heat buildings and water sustainably.
Qarnot Computing plans to build distributed sovereign infrastructure, with the continued installation of QH-1 computer heaters, QB-1 digital boilers and QS-1 computing racks.
Othmane Zrikem, Chief Data Officer, A/O PropTech said: “Qarnot uses energy to run high-performance computing (HPC) while leveraging the heat generated by microchips to heat residential units and sanitized water in commercial buildings.
“It reduces the CO2 footprint of computer servers by 78% compared to traditional data centre solutions.
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“As the need for HPC continues to grow in many industries (banking, pharmaceutical, 3D animation, etc) the market for Qarnot will grow substantially in Europe.
“At A/O PropTech, we are looking to invest in companies that intersect climate-tech and proptech. In other words, companies enabling the decarbonisation of the real estate industry, of which Qarnot is an excellent example.”
The company said that the funding follows a period of product development and sales activity, resulting in Qarnot doubling its turnover over the last two years. Qarnot accelerated its R&D activity in 2018 and 2019 in a bid to tackle climate change.
With the support of the syndicate of its investment partner, Qarnot can continue to accelerate the growth and diversification of its customer base, and the company revealed it will continue to focus on its in-house R&D, through a recruitment plan, with a particular focus on IT and commercial roles.
“This fundraising will enable us to take another step forward and accelerate our growth around our range of products and services that are already recognised and in-demand,” said Paul Benoit, President of Qarnot Computing.
“Our new investors share Qarnot’s vision, focusing on the highly strategic sectors of high-performance computing and energy efficiency in buildings. We look forward to working together, with the same values and the same desire.”
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