Insider Brief
- Veir raised $110 million in Series C funding to move its superconducting power-delivery technology toward commercial deployment in AI data centers, bringing total capital raised to $225 million.
- Matter Venture Partners and Tyche Partners co-led the oversubscribed round, with participation from LG Technology Ventures, Gates Frontier, Sabanci Climate Ventures, Hui Capital and several existing investors.
- Veir plans to use the funding to expand manufacturing, advance its product portfolio and support initial commercial projects, building on a demonstrated 3-megawatt superconducting power-delivery system.
Veir has raised $110 million in Series C funding to move its superconducting power-delivery technology from testing into commercial deployment for AI data centers. Its approach is designed to reduce the amount of space, material and installation work required to deliver power inside large data-center campuses.
According to Veir, Matter Venture Partners and Tyche Partners co-led the oversubscribed round, with participation from LG Technology Ventures, Gates Frontier, Sabanci Climate Ventures and Hui Capital. Existing investors including Engine Ventures, Galvanize Climate Solutions, Piva Capital, Congruent Ventures and VXI Capital also joined the financing.
The round brings Veir’s total capital raised to $225 million, according to the Woburn, Mass.-based company.
“AI infrastructure is advancing at a pace that requires us to rethink how power is delivered, not simply optimize the systems that exist today,” said Tim Heidel, CEO of VEIR. “This financing gives us the resources to move from demonstrating the potential of superconducting power delivery to manufacturing and deploying systems at commercial scale.”
What Veir is Doing
Veir is going after the growing power requirements of AI data centers, where increasingly dense computing systems require more electricity to be delivered through limited physical space. Its system combines superconducting cables with cryogenic cooling, controls, termination units and monitoring equipment. Superconductors can carry large amounts of electricity with very low resistance when cooled to low temperatures, allowing more power to move through a smaller footprint than conventional copper-based systems.
The company’s initial commercial focus is on power systems used behind the meter at AI data centers, where electricity is distributed within a customer’s facility rather than across the wider utility grid. Veir indicated it plans to use the funding to expand manufacturing capacity, advance its product portfolio and build out the technical and commercial operations. The company is preparing for initial commercial projects while developing its manufacturing, supply-chain and deployment infrastructure.
The company, which was founded in 2019, has demonstrated a 3-megawatt superconducting power-delivery system and is now working with customers and industry partners on commercial deployments and reference designs for AI facilities. Veir said it is also expanding partnerships across the data-center industry as it develops designs that integrate superconducting power delivery into larger AI campuses.
