Frore Systems was founded in 2018 by Seshu Madhavapeddy and Suryaprakash Ganti. Frore Systems has not officially endorsed a plan to participate in an IPO.
Frore Systems is a thermal technology company whose flagship AirJet product removes heat from computer processors without the use of fans. Per Forge data, Frore Systems raised $100 million in funding over 3 rounds, with their latest funding occurring on Dec 1, 2022, from a Series C round. Key investors include Qualcomm Ventures and Clear Ventures.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
05/29/2024 | Series C | $80.02MM | $xx.xx | $686.13MM | Fidelity Management & Research Company, Prosperity7, Mayfield Fund, Clear Ventures, Addition, Qualcomm Ventures, MVP Ventures, Stepstone Group, Alumni Ventures | |
Price per Share
$xx.xx
Shares Outstanding
4,978,092
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Fidelity Management & Research Company, Prosperity7, Mayfield Fund, Clear Ventures, Addition, Qualcomm Ventures, MVP Ventures, Stepstone Group, Alumni Ventures
|
||||||
12/01/2022 | Series B | $66.55MM | $xx.xx | $502.74MM | Qualcomm Ventures, Mayfield, Addition, Clear Ventures | |
Price per Share
$xx.xx
Shares Outstanding
4,889,839
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Qualcomm Ventures, Mayfield, Addition, Clear Ventures
|
||||||
12/01/2022 | Series A-2 | $20.03MM | $xx.xx | $502.74MM | Qualcomm Ventures, Mayfield, Addition, Clear Ventures | |
Price per Share
$xx.xx
Shares Outstanding
2,772,193
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Qualcomm Ventures, Mayfield, Addition, Clear Ventures
|
||||||
07/23/2020 | Series A-1 | $25.59MM | $xx.xx | $99.76MM | MVP Ventures, Alumni Ventures | |
Price per Share
$xx.xx
Shares Outstanding
6,695,351
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
MVP Ventures, Alumni Ventures
|
||||||
08/15/2018 | Series A | $10.14MM | $xx.xx | $22.53MM | Clear Ventures | |
Price per Share
$xx.xx
Shares Outstanding
7,657,701
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Clear Ventures
|