Asetek Receives $4 million in Venture Capital

Asetek Receives $4 million in Venture Capital

Broenderslev, Denmark - January 17, 2007 - Asetek, the market leader of thermal management solutions for semiconductors, announced today the investment of $4 million following the investment of $5 million closed last year. Northzone Ventures, Vaekstfonden, KT Venture Group, and a group of private investors participated in the round.

Asetek is the leading thermal management solution provider in the high performance, low noise and next generation mainstream chip cooling markets sporting international brands such as VapoChill and WaterChill.

"As a part of a long term OEM strategy that we started implementing a year ago, I am happy that we have achieved the required milestones to get the 2nd tranche of the investment we received last year. During 2006 we have reached significant milestones such as finalizing product development, starting up a U.S. branch office, almost doubling the number of employees in our professional and committed team, signing up with leading Asian contract manufacturers, and I am proud to say that we will soon announce our first design wins with leading OEMs," said Andr? S. Eriksen, founder and CEO of Asetek. READ MORE...