VEIR, a Massachusetts company that makes superconducting power delivery systems, has raised $110m in a Series C round co-led by Matter Venture Partners and Tyche Partners. The company said the round, reported on 8 October 2026, was oversubscribed.
The financing brings VEIR's total funding to $225m. The company did not disclose its valuation, The Next Web reported.
New investors LG Technology Ventures, Gates Frontier, Sabanci Climate Ventures and Hui Capital joined the round, and several earlier backers invested again.
“AI infrastructure is advancing at a pace that requires us to rethink how power is delivered, not simply optimize the systems that exist today. This financing gives us the resources to move from demonstrating the potential of superconducting power delivery to manufacturing and deploying systems at commercial scale.”Tim Heidel, CEO and Co-founder, VEIR
What VEIR does
VEIR's systems move electricity through superconducting cables, which carry current with almost no resistance when kept at very low temperatures. Each system combines the cables with cryogenic cooling, controls, termination equipment and monitoring.
The company's argument is density. It says its systems carry much more power through a smaller footprint than copper, while cutting the labour, materials, installation work and space that conventional wiring needs. Its current focus is power delivery inside high-density AI data centres, on the operator's side of the utility meter, according to The Next Web.
VEIR was founded in 2019 and is based in Woburn, Massachusetts. Tim Heidel is chief executive and co-founder. The company has demonstrated a 3-megawatt superconducting system and says it is working with customers and industry partners on reference designs for AI facilities. It has not named those customers.
Who invested
Matter Venture Partners and Tyche Partners led the round. Returning investors included Engine Ventures, Galvanize Climate Solutions, Piva Capital, Congruent Ventures and VXI Capital.
Wen Hsieh, founding managing partner at Matter Venture Partners, said power delivery to AI server racks is becoming one of the main limits on how efficiently and densely AI computing can grow. Weijie Yun, managing partner at Tyche Partners, said the firm believes VEIR has reached an inflection point, and told The Next Web that the physics of copper has become a fundamental constraint.
What the money is for
VEIR plans to use the money to expand manufacturing, develop more products, build up its technical and commercial teams and support its first commercial deployments. It is putting in place the manufacturing, supply chain and installation capacity needed to turn pilot projects into repeatable installations.
The first commercial projects are the next step after the 3-megawatt demonstration, The Next Web reported. Heidel said the round gives the company the resources to move from showing what superconducting power delivery can do to building and installing systems at commercial scale.
The funding so far
VEIR raised a $75m Series B in January 2025, according to The Next Web. With the new round, that accounts for $185m of the $225m total; the sources do not break down the rest.
The deal is one of several recent bets on power for AI computing. The Next Web noted that TAR raised a $120m Series A in September to build off-grid power for AI.
Company website: veir.com