Cooligy – Profile
HQ: Mountain View, CA
Founded: June 2002
Management: CEO Dave Corbin was CEO of Silicon Light Machines, which he sold to Cypress Semiconductor in 2000 for $180M. The technology behind the company was developed in the late 90s by Stanford University mechanical engineering professors Ken Goodson, Tom Kenny, and Juan Santiago who co-founded the company. They got a kick-start with a $4M ‘heretic’ grant from DARPA.
Investors: Company did $20M Series C with H.I.G. Ventures (Lead), Granite Ventures, Mayfield, Mohr Davidow Ventures. Previous investments totaled $15.8M.
Business Model: Sells material science application to chip-makers. Initial market is chips for high-end work stations. Technology pulls tiny rivulets of water through hundreds of micro-channels planted on the back of a microprocessor to draw heat away quickly. Excessive heat on chips is an enormous problem that has yet to be cracked. In May 2004, Intel ditched its newest Pentium designs, code-named Tejas and Jayhawk, a decision that many attribute to heat issues.
Hot air? Or a cool company?
Competitors: Nanocoolers, Aavid, Ferrotec, Hewlett-Packard.
Dirt: While the 3 co-founders have returned to teach at Stanford, the company still seems to be in skunk works stage. It has plenty of money to keep going – but this one will remain a blip on the outer edge of Wall Street’s radar screen.