VEIR, a Woburn, Massachusetts designer of superconducting power delivery systems for AI data centers, has closed an oversubscribed $110 million Series C. The round was co-led by Matter Venture Partners and Tyche Partners, with new investors including LG Technology Ventures, Gates Frontier, Sabanci Climate Ventures and Hui Capital, and existing investors including Engine Ventures, Galvanize Climate Solutions, Piva Capital, Congruent Ventures and VXI Capital. Total capital raised is now $225 million since the company was founded in 2019.
The financing is meant to move VEIR from technology validation to commercial deployment and scaled manufacturing. The company will expand manufacturing capacity, advance its product portfolio and build the technical and commercial capability to support adoption at scale.
VEIR’s systems combine superconducting cables with cryogenic cooling, controls, termination units and monitoring, aiming to move more power through a smaller footprint than copper-based infrastructure. The company argues that as campuses grow larger and more power-dense, copper cabling and busways consume increasing labor, material and space, and slow large deployments. It has demonstrated a 3-megawatt superconducting system.
Chief executive Tim Heidel framed the round as a shift in how power is delivered, not simply optimization of existing systems. The test now is commercial: whether operators accept cryogenic equipment inside the building in exchange for density, with first commercial deployments expected in 2027 according to trade coverage of the company’s plans.