VEIR raises $110M to swap copper for superconductors in AI data centres
VEIR has raised $110 million in a Series C round. The Massachusetts company makes superconducting power cables for AI data centres. Matter Venture Partners and Tyche Partners co-led the round, which VEIR called oversubscribed.
LG Technology Ventures, Gates Frontier, Sabanci Climate Ventures and Hui Capital joined as new investors. Existing backers also took part, including Engine Ventures, Galvanize Climate Solutions, Piva Capital, Congruent Ventures and VXI Capital. VEIR has now raised $225 million in total. It did not disclose its valuation.
“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, VEIR’s chief executive.
Cables cooled to carry more power
Superconducting cables carry electricity with almost no resistance when they are cooled to very low temperatures. VEIR’s systems combine the cables with cryogenic cooling, controls, termination units and monitoring.
The company says...
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