Submer Technologies
Hardware systems sales (immersion pods, dielectric coolant, CDUs) with services and consumables attach, plus datacenter design-and-build (business unit added Feb 2025); adding infrastructure-as-a-service and NVIDIA Cloud Partner GPU cloud (InferX) and carrier-embedded edge GPU IaaS (Radian Arc) - a shift from capex product sales toward recurring infrastructure revenue
Only the Oct 2024 Series C carries a publicly disclosed post-money (~$500M). The Jan 2022 Series B (~$33.9M per Crunchbase) never disclosed a valuation; its point is an explicitly-labeled dilution-based estimate, not a reported figure. No priced equity round has been disclosed since Oct 2024; the Dec 2024 Santander facility was debt and the Feb 2026 Radian Arc acquisition had undisclosed terms, so the current mark is stale in both directions.
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range