Frore Systems
FS
Frore develops AirJet, a solid-state active cooling chip for electronics. AirJet uses vibrating membranes to move air through a heat sink without a spinning fan. The modules are used to manage heat in thin devices such as laptops, tablets, mini PCs, and high-performance SSDs.
Founded by Seshu Madhavapeddy (CEO), Surya P. Ganti (CTO)
Blended valuation$1.8B$2.3B secondary
Valuation history
Weekly blended valuation with priced funding rounds marked on the timeline.
$2.1B
blended valuationfunding round
Mar 16, 2026$1.6BOct 5, 2026
All rounds
3 funding rounds, newest first.
| Round | Announced | Raised | Post-money |
|---|---|---|---|
| Series D | Mar 16, 2026 | $143M | $1.6B |
| Series C | May 29, 2024 | $80M | — |
| Series C | Dec 1, 2022 | $100M | — |
Investors
10 investors across all rounds.
- QVQualcomm Ventures
- FIFidelity
- MVMVP Ventures
- ADAddition
- MFMayfield Fund
- AVAlumni Ventures
- PVProsperity7 Ventures
- SGStepStone Group
- CVClear Ventures
- TTTop Tier Capital Partners
Secondary market activity
Recent buy and sell interest for Frore Systems shares on the secondary market.
| Kind | Implied valuation | Price / share | Date |
|---|---|---|---|
| $2.3B | $46.66 | Jun 24, 2026 | |
| $2.1B | $41.73 | Apr 30, 2026 | |
| $1.7B | $35.65 | Apr 14, 2026 |
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Data as of Oct 16, 2026. Valuations are estimates blended from primary and secondary-market signals — not investment advice.