VEIR Raises $110M Series C for Superconducting AI Data-Center Power

VEIR has closed an oversubscribed $110 million Series C to expand manufacturing and move superconducting power delivery from demonstration projects into commercial AI data-center deployments.

Matter Venture Partners and Tyche Partners co-led the round. New investors LG Technology Ventures, Gates Frontier, Sabanci Climate Ventures and Hui Capital joined existing backers Engine Ventures, Galvanize Climate Solutions, Piva Capital, Congruent Ventures and VXI Capital.

The company has now raised $225 million in total. It did not disclose a valuation.

Why data-center power delivery is becoming investable

AI clusters are raising power density faster than many data-center electrical systems were designed to handle. Operators are moving toward larger campuses, higher-voltage direct-current architectures and more behind-the-meter infrastructure, but conventional copper conductors require space, material and installation labor.

VEIR's system combines superconducting cable with cryogenic cooling, terminations, controls and monitoring. When cooled to very low temperatures, superconductors carry current with almost no electrical resistance. VEIR argues this lets operators move substantially more power through a smaller footprint than copper.

The promise is compelling, but the comparison cannot stop at conductor efficiency. Commercial buyers will evaluate the entire system: cooling energy, uptime, maintenance, installation complexity, fault handling and lifecycle cost.

From a 3-megawatt demo to commercial projects

VEIR says it has demonstrated a 3-megawatt system and is developing reference designs and commercial deployments with customers and partners. It has not named those customers or disclosed contracted capacity.

That gap defines the Series C. The financing is intended to increase manufacturing capacity, develop new products and support first commercial projects. In other words, investors are funding the step between technical feasibility and bankable infrastructure.

VEIR's previous $75 million Series B closed in January 2025. The new round is larger and arrives as data-center developers increasingly treat power availability—not compute hardware—as the binding constraint on growth.

Why these investors matter

Matter Venture Partners and Tyche Partners bring deep-tech and industrial experience. Strategic participation from LG Technology Ventures and Siemens-adjacent energy investors across the sector indicates that cable, power-equipment and data-center ecosystems are looking for alternatives to incremental copper upgrades.

Returning climate investors also preserve VEIR's original grid-decarbonization case. The company can target dense AI campuses first, where customers may pay for space and speed, while retaining longer-term applications in utility transmission and renewable integration.

The tension is focus. Data centers can accelerate commercialization, but utilities buy on slower cycles and demand decades of reliability. Serving both markets could expand the opportunity or stretch engineering and sales resources.

The milestones that matter

Four disclosures would materially improve the investment picture:

• a named commercial customer and deployed capacity;
• manufacturing throughput and delivery timelines;
• total cost of ownership versus copper at comparable power density; and
• reliability data for the full cryogenic system, not only the cable.

VEIR's Series C is a confirmed equity close, not project debt. The company now has substantial venture capital to prove that superconducting power can graduate from high-performance demonstrations into standard data-center infrastructure.