VEIR is a company.
VEIR has raised $111.0M across 3 funding rounds.
Key people at VEIR.
VEIR has raised $111.0M in total across 3 funding rounds.
Key people at VEIR.
VEIR is a superconducting power solutions company founded in 2019, developing high-temperature superconducting wires and cables that deliver 5-10 times more power than conventional conductors in the same physical space and voltage.[1][2][3][4] It serves data centers, utilities, renewable energy producers, and energy infrastructure operators by solving critical bottlenecks in power transmission capacity amid surging demand from AI, electrification, and grid resilience needs.[1][2][4] The company's black pipe-enclosed superconducting tapes, cooled by liquid nitrogen at -321°F, enable rapid deployment, smaller footprints, and enhanced efficiency—such as upgrading a 35kV line from 25MW to over 200MW—positioning VEIR for strong growth momentum, evidenced by a $75M oversubscribed Series B in 2025 (total raised ~$116-125M) led by Munich Re Ventures with Microsoft Climate Innovation Fund participation, funding data center pilots this year.[2][4][5]
VEIR was co-founded in 2019 by CEO Tim Heidel, who leads the company from its Boston/Massachusetts base, driven by the need to revolutionize power delivery for data centers, renewables, and utilities amid global electrification goals.[1][4] The idea emerged from recognizing transmission constraints limiting grid capacity and renewable integration, with superconductors offering a breakthrough in power density.[1][3][4] Early traction built through partnerships with industry leaders; by 2025, VEIR secured high-profile backing including Breakthrough Energy Ventures, Engine Ventures, National Grid Partners, and Microsoft, culminating in the Series B to pilot deployments—pivotal for proving real-world scalability in AI-driven data centers.[1][2][4]
VEIR rides the explosive growth of AI data centers and electrification, where power demand is outpacing grid capacity—AI GPUs and hyperscale expansions require unprecedented density, while renewables face transmission bottlenecks.[2][3][4] Timing is ideal post-2025 funding, aligning with urgent needs for grid resilience amid net-zero goals; market forces like data center buildouts (e.g., Microsoft's decarbonization push) and policy incentives for clean infrastructure favor rapid adopters.[2][4] VEIR influences the ecosystem by enabling faster renewable integration (e.g., 8x capacity boosts on existing lines) and sustainable AI scaling, potentially unlocking trillions in stranded energy assets and reducing new line permitting delays.[1][4]
VEIR is primed for commercialization acceleration, with 2025 data center pilots paving the way for widespread utility and hyperscaler adoption, potentially capturing a slice of the $100B+ grid upgrade market.[2][4] Trends like AI power surges (projected to double data center demand) and fusion/geothermal scaling will amplify its superconducting edge, evolving VEIR from innovator to infrastructure staple—watch for Series C, partnerships with majors like National Grid, and global expansion to cement its role in powering the AI-grid revolution.[2][3][4] This positions VEIR as a foundational enabler for the resilient, high-density electricity value chain it set out to transform.[1]
VEIR has raised $111.0M in total across 3 funding rounds.
VEIR's investors include Addition, Breakthrough Energy Ventures, Congruent Ventures, Earthshot Ventures, Lowercarbon Capital, Microsoft, NCT Ventures, The Engine.
VEIR has raised $111.0M across 3 funding rounds. Most recently, it raised $75.0M Series B in January 2025.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jan 1, 2025 | $75.0M Series B | Addition, Breakthrough Energy Ventures, Congruent Ventures, Earthshot Ventures, Lowercarbon Capital, Microsoft, NCT Ventures, The Engine | |
| May 1, 2023 | $25.0M Series A | Addition, Breakthrough Energy Ventures, Congruent Ventures, Lowercarbon Capital, Microsoft, The Engine | |
| Mar 1, 2021 | $11.0M Series A | Addition, Breakthrough Energy Ventures, Congruent Ventures, Lowercarbon Capital, Microsoft, The Engine |
