Veir lands $110M Series C for superconducting cables to feed data centers
What's the deal? Veir, a developer of superconducting power delivery systems, has raised $110 million in a Series C round, chief executive officer Tim Heidel told Axios Pro. The company builds cables designed to move large amounts of power through a smaller physical footprint.
Why now? Data centers are driving a surge in electricity demand, straining grids and the equipment that connects them. Veir is pitching its technology as a way to deliver dense power where space and grid capacity are tight.
What's the endgame? High-temperature superconductors can carry far more power than conventional cables in the same space. Cost and engineering hurdles have limited their deployment so far — the problem Veir is working to solve.
The signal: At $110 million, this is a large Series C for an energy startup. The round sits near the top of comparable US energy Series C deals, ranking around the 91st percentile across a sample of 446 — a sign of investor appetite for infrastructure that can keep pace with AI-driven power demand.
Read more: Axios
Image credit: Veir
