Veir raises $110 million Series C to accelerate commercialization

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 WOBURN, Mass.--()--October 08, 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 P