NetworkOcean Analysis: $500K Raised
What is NetworkOcean?
NetworkOcean builds floating and underwater data centers for high-density AI compute. The company says seawater cooling cuts power usage by up to 40 percent and eliminates water consumption. Its infrastructure is purpose built for NVL72, GB200, and H100 or H200 deployments.
Location
San Francisco, California, United States
Employees
1-10
Founded
2023
Revenue
$10M
Product Features & Capabilities
- Underwater data centers, eliminate freshwater usage, reduce operating costs by 25%, power savings, hardware reliability, edge compute-level latency, up to 98% lower latency to the coast.
Pricing
- Building a data center costs $10-20 million per MW of power capacity.
- Approximately 2/3 of this cost is attributed to land, building, and cooling infrastructure.
How much NetworkOcean raised
Pre-Seed - $500,000
September 25, 2024Lead Investor: Pioneer Fund, Y Combinator
Investors
- Y Combinator
- Pioneer Fund
- Climate Capital
- Pareto Holdings
- Refactor Capital
- BullMont Capital
Business Model
Sells data center capacity and GPU resources to clients needing edge computing solutions.
Competitors Overview
The main competitors of NetworkOcean in the underwater data center market include:
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HiCloud: This Chinese company operates underwater data center modules commercially off the coast of Hainan Province. HiCloud claims significant energy savings and reduced land use compared to traditional data centers, which positions it as a strong competitor in terms of sustainability and operational efficiency.
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Subsea Cloud: Operating 13,500 servers in underwater locations across Asia, Subsea Cloud aims to rent its services to AI and gaming companies. This extensive operational capacity gives Subsea Cloud a competitive edge in terms of scalability and service offerings.
Notable differences and advantages:
- Regulatory Compliance: HiCloud and Subsea Cloud have secured the necessary permits for their operations, while NetworkOcean has not yet sought permission for its planned test in San Francisco Bay. This regulatory compliance could provide a significant advantage to its competitors.
- Operational Scale: Subsea Cloud's larger number of operational servers may allow it to cater to a broader range of clients and applications compared to NetworkOcean's current capabilities.
Market Focus
NetworkOcean primarily focuses on the underwater data center industry, which involves building and operating data centers submerged in water to reduce freshwater usage and lower operating costs and latency.
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