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

VEIR closed an oversubscribed $110 million Series C co-led by Matter Venture Partners and Tyche Partners, bringing total capital raised to $225 million, according to the company’s October 8, 2026 Business Wire release. The money moves VEIR’s superconducting power delivery systems for AI data centers from validation to first commercial projects and scaled manufacturing.

The numbers on the wire

• $110 million Series C, oversubscribed; co-leads Matter Venture Partners and Tyche Partners.
• New investors: LG Technology Ventures, Gates Frontier, Sabanci Climate Ventures and Hui Capital.
• Existing investors named: Engine Ventures, Galvanize Climate Solutions, Piva Capital, Congruent Ventures and VXI Capital, among others.
• $225 million total raised since VEIR was founded in 2019 (Woburn, Massachusetts).
• Technical milestone: a 3-megawatt superconducting power delivery system demonstrated.
• No valuation disclosed on the primary release.

What VEIR sells

VEIR’s integrated systems combine superconducting cables with cryogenic cooling, controls, termination units and monitoring. The pitch is moving more power through a smaller physical footprint than copper, with less labor, material and installation complexity. The company says its initial focus is AI data centers behind the meter.

The release frames copper as the bottleneck: as campuses get larger and more power-dense, copper-based infrastructure is slowing large deployments and consuming more labor, material and space.

Where the money goes

• Expand manufacturing capacity and supply chain.
• Advance the product portfolio and AI-factory reference designs with customers and industry partners.
• Prepare initial commercial deployments and build the path from pilots to repeatable installations.

On the record

“AI infrastructure is advancing at a pace that requires us to rethink how power is delivered, not simply optimize the systems that exist today.” — Tim Heidel, CEO, VEIR

“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.” — Wen Hsieh, Founding Managing Partner, Matter Venture Partners

“AI is critically important and requires more efficient power delivery systems to continue to scale, while the physics of copper has become a fundamental limitation.” — Weijie Yun, Managing Partner, Tyche Partners

What to watch

The release names no customers, site sizes or deployment dates. The receipts to track are the first named commercial deployment, how many megawatts it carries versus the 3 MW demo, and whether a hyperscaler or neocloud adopts a VEIR reference design.

FAQ

How much did VEIR raise?

$110 million in an oversubscribed Series C, bringing total funding to $225 million.

Who led VEIR’s Series C?

Matter Venture Partners and Tyche Partners co-led, with LG Technology Ventures, Gates Frontier, Sabanci Climate Ventures and Hui Capital joining as new investors.

What does VEIR make?

Superconducting power delivery systems (cables plus cryogenic cooling, controls, terminations and monitoring) for AI data centers, initially behind the meter.