Superconducting power delivery company VEIR announced the closing of an oversubscribed $75 million Series B round led by Munich Re Ventures, with participation from new and existing investors. Munich Re Ventures led the Series B round with participation from new investors Microsoft’s Climate Innovation Fund, Tyche Partners, Piva Capital, National Grid Partners, Dara Holdings, and SiteGround. And existing investors VXI Capital, Breakthrough Energy Ventures, Congruent Ventures, Engine Ventures, Fine Structure Ventures and Galvanize Climate Solutions also joined the round.
This funding round will accelerate VEIR’s commercialization efforts for its innovative solutions serving data centers, utilities, and renewable energy developers.
VEIR’s superconducting solutions offer a transformative solution for data centers, delivering up to 10x the power of traditional cables while operating at the same voltage and enabling a smaller electrical footprint. And as AI models and advanced GPUs drive unprecedented power demands, traditional copper cabling and busbar systems struggle to keep pace. VEIR’s high-power-density solutions offer data center operators opportunities for efficiency, improved server latency, and simplified campus designs – paving the way for a new era of power delivery in AI-focused infrastructures.
At the same time, as global energy demand is projected to increase substantially in the next two decades, renewable energy resources remain trapped in interconnection queues due to bottlenecked transmission and distribution systems. VEIR’s superconducting solutions address these challenges by enabling existing transmission lines to carry significantly more power within the same corridor and establish simple, high-voltage solutions to integrate new resources onto the grid.
KEY QUOTES:
“The transmission grid must evolve to support tomorrow’s infrastructure, including rapidly growing, power-intensive AI-driven data centers while addressing the urgent need for climate resilience through cleaner, more efficient energy systems. VEIR’s advanced superconducting power lines represent a critical innovation to meet this demand. Additionally, risk transfer mechanisms have a vital role to play in supporting the adoption of emerging grid technologies. We’re excited to partner with VEIR on this transformative journey.”
- Timur Davis, Director at Munich Re Ventures
“At Microsoft, we seek to enable a decarbonized grid for our company, our customers, and the world. One of the biggest challenges for greater availability of clean energy is that improved infrastructure is needed to deliver carbon free electricity at scale. VEIR’s technology can enhance the efficiency and sustainability of energy systems.”
- Brandon Middaugh, Sr. Director of Microsoft’s Climate Innovation Fund
“The entire electricity value chain needs to grow quickly to meet the infrastructure and power demands of data centers for AI, renewable generation, power grid expansion and to support broader societal goals for electrification, manufacturing growth, and energy resilience.”
“VEIR is solving these challenges with innovative designs that replace conventional solutions, enhance existing infrastructure with superconductor technology, and eliminate the restrictions that typically delay the delivery of power density necessary for data center buildouts, global decarbonization, and grid resilience.”
- Tim Heidel, CEO of VEIR
