VEIR closes $75 million Series B for superconducting power delivery
Munich Re Ventures leads the financing, adding strategic backers from cloud computing, energy and infrastructure.
VEIR announced a $75 million Series B on January 28, 2025, led by Munich Re Ventures. New investors included Microsoft’s Climate Innovation Fund, National Grid Partners, Piva Capital, Tyche Partners, Dara Holdings and SiteGround.
VXI Capital, Breakthrough Energy Ventures, Congruent Ventures, Engine Ventures, Fine Structure Ventures and Galvanize Climate Solutions also participated.
At the time of the financing, VEIR was addressing power delivery in both data centers and the wider electricity network. Its superconducting systems aimed to increase capacity within constrained cable footprints and existing transmission corridors, supporting denser computing facilities and new grid connections.
Use of funds
Accelerate commercialization of superconducting power delivery for data centers, utilities and renewable energy developers