US startup Veir has raised $24.9 million in a Series A+ round. VXI Capital, Galvanize Climate Solutions, Fidelity Investments, Congruent Ventures, The Engine, and Breakthrough Energy Ventures invested. Veir develops a way to transmit electricity using high-temperature superconductors (HTS). Its platform uses evaporative cryogenic cooling. The technology lets utilities carry more power at lower voltage within a smaller right-of-way. This helps connect the lowest-cost renewable resources to the places that need them.

VEIR raises $110 million Series C to accelerate commercialization of superconducting power delivery technology for AI data centers. Matter Venture Partners and Tyche Partners co-lead round supporting first commercial projects, scaled manufacturing, and broader deployment of Veir's high density superconducting power delivery systems October 13, 2026 Veir, a U.S.-based designer and manufacturer of superconducting power delivery systems for AI data centers, today announced the closing of an oversubscribed $110 million Series C financing round co-led by Matter Venture Partners and Tyche Partners, with participation from LG Technology Ventures, Gates Frontier, Sabanci Climate Ventures, and Hui Capital. The round also included participation from existing investors such as Engine Ventures, Galvanize Climate Solutions, Piva Capital, Congruent Ventures, VXI Capital, among others, and brings the company's total capital raised to $225 million. The financing supports Veir's transition from technology validation to commercial deployment and scaled manufacturing. The company will use the new capital to expand manufacturing capacity, advance its product portfolio, and further build the technical and commercial capabilities needed to support adoption at scale. The rapid buildout of AI infrastructure is creating unprecedented requirements for power density and speed-to-power. As data center campuses become larger and more power intensive, reliance on copper-based infrastructure is slowing large-scale deployments, and requires increasing amounts of labor, material, and space. Veir is developing a new power delivery architecture for this environment. Its integrated systems combine superconducting cables with cryogenic cooling, controls, termination units, and monitoring to move significantly more power through a smaller physical footprint, giving data center operators greater flexibility while reducing labor costs, material requirements, and installation complexity. "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." Veir has made significant progress toward commercialization, including the successful demonstration of a 3-megawatt superconducting power delivery system. The company is now working with customers and industry partners on AI-factory reference designs and commercial deployments. "The next generation of AI data center will require innovations beyond compute," said Wen Hsieh, Founding Managing Partner at Matter Venture Partners. "Power delivery to AI server racks is emerging as one of the critical constraints on how efficiently and densely AI compute can scale and cluster, respectively. Veir has developed a revolutionary high-temperature superconductor-based, small-form factor electrical transmission solution to addressing this power delivery challenge." Tyche Partners similarly pointed to Veir's technology and commercial progress as key factors in its continued support of the company. "AI is critically important and requires more efficient power delivery systems to continue to scale, while the physics of copper has become a fundamental limitation," said Weijie Yun, Managing Partner at Tyche Partners. "As technologists and former entrepreneurs, we believe Veir has reached an inflection point and is uniquely positioned to scale superconducting power systems, with the technology and ecosystem leadership to enable new levels of power density and performance for AI data centers." Looking ahead, Veir is preparing for initial commercial deployments while building the manufacturing, supply chain, and deployment infrastructure required for broader adoption. The company is also expanding partnerships across the data center ecosystem and advancing reference designs that integrate superconducting power delivery into next-generation AI campuses, creating a scalable pathway from pilot deployments to repeatable commercial installations.

VEIR raises $110M to scale superconducting power systems for AI data centres. 9 October 2026 Key Takeaways * VEIR raised $110 million in an oversubscribed Series C led by Matter Venture Partners and Tyche Partners. * The financing brings VEIR's total capital raised to $225 million. * The company will expand manufacturing and prepare its superconducting systems for commercial deployment. VEIR targets AI data centre power demands. VEIR, a US-based power technology company, has raised $110 million in Series C funding. Matter Venture Partners and Tyche Partners co-led the oversubscribed financing. LG Technology Ventures, Gates Frontier and other investors also participated. Existing backers including Engine Ventures and Piva Capital joined the round. The financing brings VEIR's total capital raised to $225 million. The company will use the capital to expand manufacturing capacity. It will also advance its product portfolio and prepare for commercial deployments. AI data centres are creating unprecedented requirements for power density. Their rapid expansion is also increasing pressure on existing electrical infrastructure. VEIR is developing superconducting power delivery systems for these facilities. Its technology aims to move more electricity through a smaller physical footprint. The company combines superconducting cables with cryogenic cooling systems. Its architecture also includes controls, termination units and monitoring technology. VEIR says this approach can reduce labour and material requirements. It can also simplify installation as data centre campuses become larger. The company's initial focus is behind-the-meter power delivery. This targets AI data centres where operators need dense and flexible power infrastructure. Superconducting technology moves toward commercialisation. VEIR has already demonstrated a 3-megawatt superconducting power delivery system. The company is now working with customers and industry partners on reference designs. These designs are intended for next-generation AI data centre campuses. VEIR is also preparing for its initial commercial deployments. The company was founded in 2019 and is headquartered in Woburn, Massachusetts. Its technology uses superconductors that carry electricity with extremely low resistance when cooled. The Series C marks a transition for VEIR. The company is moving from technology validation towards manufacturing and commercial deployment. VEIR raised $75 million in Series B funding in January 2025. Its latest financing provides additional resources for its commercial expansion. VEIR expands manufacturing and partnerships. VEIR is expanding manufacturing capacity, developing superconducting power systems and strengthening partnerships to address growing AI data centre power demands. Source: Created by Ventureburn. The new capital will help VEIR increase manufacturing capacity. It will also support further product development and supply chain expansion. The company plans to build the infrastructure needed for repeatable deployments. It is also expanding partnerships across the data centre ecosystem. VEIR sees traditional copper infrastructure holding back big AI facilities. As power needs climb, so do the amount of materials, labor, and hassle during installation. That's where their superconducting systems step in, built to get around those bottlenecks. The goal is to make life easier for operators trying to handle all the power-hungry AI workloads. Matter Venture Partners said power delivery is becoming a critical constraint for AI infrastructure. Tyche Partners also highlighted VEIR's progress towards scalable superconducting power systems. VEIR builds for AI infrastructure growth. VEIR's latest financing comes amid rising demand for AI infrastructure. Data centre operators are seeking new approaches to manage growing electricity requirements. The company sees superconducting technology as one potential solution. Its focus is on making that technology practical for commercial data centre deployments. VEIR will now concentrate on manufacturing, supply chain development and customer deployment. It will also continue refining reference designs for AI campuses. The company aims to create a scalable path from initial pilots to repeatable installations. Its strategy could position superconducting power delivery as an important infrastructure layer for AI. The latest funding gives VEIR substantial capital to advance its commercial ambitions. Its next milestone will be turning successful demonstrations into deployed systems. To stay updated on crypto venture capital funding and market trends, visit its venture capital news section for more insights. Clinton Nwachukwu is a crypto and finance writer with an MBA in Artificial Intelligence and 6+ years of experience creating content for leading global brands. 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