VEIR Closes a $75 Million Series B for Superconducting Transmission
VEIR, a Massachusetts superconductor startup, has closed a $75 million Series B funding round to commercialise its superconducting transmission technology. The round was led by Munich Re Ventures and included Microsoft’s Climate Innovation Fund, bringing the company’s total raised to $115 million. VEIR is targeting data centres, utilities, and renewable energy developers.
The round brings VEIR’s total funding to $115 million
In late January 2025, VEIR announced a $75 million Series B led by Munich Re Ventures. New investors included Microsoft’s Climate Innovation Fund and National Grid Partners, alongside Piva Capital, Tyche Partners, Dara Holdings, and SiteGround. The raise took VEIR’s total funding to $115 million, to be spent accelerating the commercialisation of its product.
The investor list is itself a signal. A reinsurer’s venture arm, a grid operator’s fund, and a hyperscale cloud company are the three groups most exposed to the cost of moving large amounts of power, and all three backed the same superconducting-transmission bet.
The technology aims to move far more power per line
VEIR’s pitch is capacity. The company says its superconducting lines can carry up to ten times the power of a traditional cable at the same voltage, using tapes cooled by liquid nitrogen. That density is the argument for putting a cooled superconductor where a conventional line would otherwise need far more space or a higher voltage.
The demand behind the round is the surge in large new electrical loads, above all data centres, which need bulk power delivered into constrained sites. Our applications article covers where superconducting transmission fits among other uses.
VEIR would go on to a data-centre demonstration
The funding set up VEIR’s next steps, which included a megawatt-scale data-centre demonstration later in 2025. The company appears among the transmission players in our project tracker, and this round marked the point where its technology moved from development toward commercial deployment.