Woburn Startup VEIR Raises $110 Million to Bring Superconducting Power to AI Data Centers

VEIR, a Woburn, Massachusetts, company that builds superconducting power delivery systems for AI data centers, said on Thursday, Oct. 8, 2026, that it has closed a $110 million Series C funding round. The oversubscribed round brings the Boston-area startup’s total funding to $225 million and pays for the jump from demonstration projects to commercial installations and larger-scale manufacturing.

VEIR Series C at a Glance: Size, Dates and Investors

• Size: $110 million in Series C equity, described by the company as oversubscribed. Valuation was not disclosed.
• Date: announced and closed Oct. 8, 2026, according to VEIR’s Business Wire release.
• Lead investors: Matter Venture Partners and Tyche Partners co-led the round.
• New investors: LG Technology Ventures, Gates Frontier, Sabanci Climate Ventures and Hui Capital.
• Existing investors: Engine Ventures, Galvanize Climate Solutions, Piva Capital, Congruent Ventures and VXI Capital, among others.
• Total raised since 2019: $225 million, following a $75 million Series B announced in January 2025.
• Use of funds: expanding manufacturing capacity, advancing the product line, and building the technical and commercial teams needed for first customer projects.

What VEIR Builds and Why AI Data Centers Want It

Large AI data centers need huge amounts of electricity moved from a substation or on-site power plant to dense racks of chips. Today that job is done mostly with copper cables and busways, which grow heavier, bulkier and more labor-intensive to install as power demands climb. VEIR argues in its announcement that this copper-based infrastructure is now slowing large deployments and eating up space, material and construction labor.

VEIR’s alternative uses superconducting cables, which carry electric current with almost no resistance once they are cooled to very low temperatures. The company sells an integrated system rather than just cable: superconducting lines, cryogenic cooling, controls, termination units where the cable connects to normal equipment, and monitoring. The company says the result moves significantly more power through a much smaller physical footprint.

VEIR says it has already demonstrated a 3-megawatt superconducting power delivery system and is working with customers and industry partners on reference designs for “AI factories” and on commercial deployments. Its first target market is power delivery “behind the meter,” meaning inside data center campuses rather than on the public utility grid. The company was founded in 2019.

Context: Boston’s Growing AI Infrastructure Cluster

The round is one of the larger recent raises for a Boston-area hardware company. The Boston Business Journal reported that VEIR employs about 85 people, mostly in Massachusetts, and quoted chief executive Tim Heidel, a former investor at Breakthrough Energy Ventures, saying that “speed to power is everything right now.”

VEIR joins a string of Boston startups and companies riding the AI buildout this fall. In recent weeks we have covered Tamr’s $21 million raise for its AI data platform and Ledgebrook’s $200 million round for AI-driven insurance. The demand side is visible in deals like Microsoft’s Nscale data center project in England, which shows how much power hyperscale AI sites now require.

Dealroom data cited by the venture research site Nexi placed the round around the 91st percentile of comparable U.S. energy Series C rounds.

Impact: What the Money Could Change

For data center operators, the pitch is faster construction and denser power delivery at a time when access to electricity has become one of the biggest limits on new AI capacity. If VEIR’s systems work at commercial scale, they could reduce the amount of copper, trenching and installation labor needed inside large campuses.

For Massachusetts, the round supports a manufacturing-focused company that says it is expanding production. VEIR did not say how many people it plans to hire or where new manufacturing capacity will be located.

Open Questions

Several important numbers were not disclosed. VEIR has not named its commercial customers or said when the first paid installations will go live. The company also has not published the ongoing energy cost of the cryogenic cooling its cables require, a point Nexi’s analysis flagged as the deciding factor in whether superconducting systems beat copper over a decade of operation. Nexi also noted that VEIR buys its high-temperature superconductor tape from outside suppliers, a material made in a small number of factories worldwide.

A 3-megawatt demonstration is meaningful, but large AI campuses are measured in hundreds of megawatts. The next test will be whether VEIR can deliver repeatable installations at that scale.

Reactions

The company’s release said the financing supports VEIR’s “transition from technology validation to commercial deployment and scaled manufacturing.” LG Technology Ventures, one of the new investors, republished the announcement on its own site. Heidel’s comment on “speed to power” summed up how the company frames the market: AI developers want electricity at the rack as fast as possible, and VEIR is betting that superconductors can get it there sooner than copper.

For more Boston startup news, see our Boston business and tech news hub and our AI news page.

Featured photo: National Institute of Standards and Technology / Wikimedia Commons, Public domain. Cropped and resized.

Sources

• VEIR: VEIR Raises $110 Million Series C (Oct. 8, 2026)
• LG Technology Ventures: full text of the VEIR Series C release
• Boston Business Journal: Woburn company gets $110M to power AI data centers
• Nexi: VEIR raised $110M to replace copper inside AI data centres
• Reuters via TradingView: VEIR raises $110 million Series C