VEIR, a Woburn, Massachusetts-based company that makes superconducting power systems, has raised $110 million in an oversubscribed Series C round co-led by Matter Venture Partners and Tyche Partners.

New investors LG Technology Ventures, Gates Frontier, Sabanci Climate Ventures and Hui Capital joined, along with existing backers Engine Ventures, Galvanize Climate Solutions, Piva Capital, Congruent Ventures and VXI Capital. The round brings VEIR's total funding to $225 million, following a $75 million Series B in January 2025.

What VEIR Does

Most electricity moves through copper or aluminum, which lose energy as heat and need large amounts of physical space to carry heavy loads. Superconducting cables, cooled to extremely low temperatures, carry electricity with almost no resistance, allowing much more power to move through a much smaller footprint.

VEIR packages superconducting cables with cryogenic cooling, controls, termination units and monitoring into a complete power delivery system. The company says this reduces the space, materials and installation work needed compared with conventional copper systems.

VEIR was founded in 2019 and is led by CEO and co-founder Tim Heidel. It has demonstrated a 3-megawatt system and is working with unnamed customers and partners on reference designs and commercial deployments.

The AI Data Center Focus

VEIR's first commercial target is behind-the-meter power inside AI data centers, meaning power distribution on the operator's side of the utility connection. As AI chips draw more power per rack, operators are running into the physical limits of how much copper they can fit into a building.

Heidel has said AI infrastructure is advancing fast enough that power delivery must be rethought rather than just optimized. Tyche Partners managing partner Weijie Yun has made a similar case, arguing that the physics of copper has become a fundamental limit.

How the Money Will Be Used

According to The AI Insider, VEIR will use the funds to expand manufacturing capacity, advance its product line, build out technical and commercial teams and support its first commercial projects.

Why It Matters

Power has become the main constraint on AI infrastructure. Much of the attention goes to generation and grid connections, but moving power efficiently inside dense data centers is a growing problem of its own. VEIR's raise reflects investor interest in the full power stack behind AI, and its next challenge is proving superconducting systems can be manufactured and installed at commercial scale.

Source

The Next Web — "VEIR raises $110M to swap copper for superconductors in AI data centres"