VEIR has closed a $75 million Series B funding round, led by Munich Re Ventures, with participation from Microsoft’s Climate Innovation Fund, Tyche Partners, Piva Capital, National Grid Partners, and other investors. The investment will drive the commercialisation of superconducting power transmission technology, designed to meet the rising energy demands of AI-driven data centres, renewable energy projects, and electrical grid expansion.
VEIR’s high-power-density superconducting cables offer up to 10 times the power capacity of conventional copper cables, enabling data centres to operate at the same voltage while reducing their electrical footprint.
As AI models, advanced GPUs, and cloud computing fuel soaring energy demands, traditional copper-based transmission struggles to keep pace. VEIR’s superconducting technology provides greater power efficiency, improved server latency, and simplified campus infrastructure, making it a key solution for AI-focused energy management.
Key benefits of VEIR’s superconducting cables for data centres include 10x higher power transmission than copper-based systems, reduced voltage drop for efficient energy use, smaller electrical footprint, optimising data centre layout, and scalability to meet AI and cloud computing demands.
With global electricity demand expected to rise by 30% in the next 20 years, bottlenecks in power transmission remain a major challenge for renewable energy projects. VEIR’s superconducting power lines increase grid capacity by enabling existing corridors to transport higher energy loads without the need for costly infrastructure expansion.
“The transmission grid must evolve to support power-intensive AI-driven data centres while also meeting climate resilience goals through cleaner, more efficient energy systems,” said Timur Davis, Director at Munich Re Venture.
“The entire electricity value chain must scale rapidly to meet growing power demands,” said Tim Heidel, CEO of VEIR. “Our superconducting solutions eliminate bottlenecks and enable high-density power delivery for AI, data centres, and global decarbonisation.”
The Series B funding round, led by Munich Re Ventures, includes participation from Microsoft’s Climate Innovation Fund, Tyche Partners, Piva Capital, National Grid Partners, Dara Holdings, and SiteGround.
Existing investors such as VXI Capital, Breakthrough Energy Ventures, Congruent Ventures, Engine Ventures, Fine Structure Ventures, and Galvanize Climate Solutions also contributed.
