VEIR raises $110M to swap copper for superconductors in AI data centres

Massachusetts-based VEIR has raised $110 million in a Series C round, bringing its total funding to $225 million. The company builds superconducting power cables with cryogenic cooling for AI data centres, claiming they move more power in less space than copper. Matter Venture Partners and Tyche Partners co-led the round.

• Series C round of $110M; $225M raised in total
• Co-led by Matter Venture Partners and Tyche Partners
• Has demonstrated a 3-megawatt system
• Focus is behind-the-meter power for AI data centres