# Drogue

> US startup designing floating AI data centers powered and cooled through ocean thermal energy conversion.

## Why it is interesting

Drogue founder Sam Sipe disclosed $20M in backing in an on-the-record TechCrunch interview published November 13, 2026. The company wants to put a multi-megawatt prototype at sea in early 2028, using warm surface water, cold deep water and an ammonia-cycle turbine to power and cool servers. No fundraise stage, round lead, commercial plant, valuation or contracted capacity has been established.

## Profile

- **Latest funding:** Disclosed financing to date — stage and tranche count undisclosed — $20M reported cumulative; not verified as a single new round (November 13, 2026)
- **Latest known valuation:** Undisclosed (November 13, 2026)
- **Total disclosed equity funding:** $20M
- **Stage:** other
- **Status:** private
- **Industries:** N/A
- **Coverage:** full
- **Last updated:** 2026-11-14T14:59:07+01:00
- **Latest funding investors:** XYZ Venture Capital, Toyota Ventures, Tamarack Global, Dream, FDVC, Garuda Ventures, Flexcap, Boost VC, Slow Ventures

## Key facts

- $20M of disclosed backing reported November 13, 2026 directly by founder Sam Sipe to TechCrunch; financing stage, individual tranche size, legal date, valuation and lead investor not publicly specified.
- A multi-megawatt floating data-centre prototype aboard an existing vessel is intended for early 2028; no at-sea power-generation results have been published.
- The proposed OTEC cycle uses warm seawater and deep cold seawater with an ammonia turbine loop; thermodynamic and marine-engineering feasibility depends on the actual temperature gradient, pipe pumping work and net electricity output.
- American Bureau of Shipping design 'approval in principle' is a preliminary assessment; it is not proof of class certification, operating safety or build completion.
- Named backers include XYZ Venture Capital, Toyota Ventures, Tamarack Global, Dream, FDVC, Garuda Ventures, Flexcap, Boost VC and Slow Ventures; none was explicitly identified as financing lead.

## Funding history

- Disclosed financing to date — stage and tranche count undisclosed · $20M reported cumulative; not verified as a single new round · November 13, 2026
  Source: https://techcrunch.com/2026/11/13/this-young-startup-wants-to-power-floating-data-centers-with-the-oceans-heat-and-investors-are-already-on-board/

## Investors in our directory

- https://venturecapitaltracker.com/fund/xyz-venture-capital
- https://venturecapitaltracker.com/fund/toyota-ventures

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)
**Last updated:** November 14, 2026

**Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.

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Source: https://venturecapitaltracker.com/startup/drogue-ocean-data-centers