VEIR Raises a $110 Million Series C for Superconducting Data Centre Power
VEIR, a Massachusetts company developing superconducting power delivery for artificial intelligence (AI) data centres, has closed an oversubscribed $110 million Series C, taking its total raised to $225 million. The round is almost one and a half times the size of its January 2025 Series B, and one of that round’s investors, Tyche Partners, now co-leads. The announcement names no customers, tape supplier, valuation or deployment date.
A Series B backer now co-leads the round
On 8 October 2026 VEIR announced that it had closed a $110 million Series C, which it described as oversubscribed. Matter Venture Partners and Tyche Partners co-led. The new investors are LG Technology Ventures, Gates Frontier, Sabanci Climate Ventures and Hui Capital. Returning investors include Engine Ventures, Galvanize Climate Solutions, Piva Capital, Congruent Ventures and VXI Capital.
Tyche Partners and Piva Capital both invested in the $75 million Series B in January 2025. Tyche has moved from participant to co-lead. The announcement gives no valuation.
The Series C is almost half of everything VEIR has raised
VEIR’s total funding now stands at $225 million. After the Series B the total was $115 million. The $110 million difference matches the new round exactly, so the Series C accounts for 49% of the company’s lifetime funding and is 1.47 times the size of the Series B.
The money is going into manufacturing and first deployments
The Next Web reported on 8 October 2026 that the funds will pay for more manufacturing capacity and new products as VEIR moves from testing to its first commercial projects. According to the same report, its first focus is behind-the-meter power at AI data centres, meaning supply on the operator’s side of the utility meter, and it is working with unnamed customers and partners on reference designs.
That follows VEIR’s 3 MW demonstration in November 2025, when it delivered that power through a single low-voltage superconducting cable in a simulated data centre. At the time the company said it planned pilot installations in working data centres during 2026 and a commercial launch in 2027. The Series C announcement does not update that timeline.
More cable production means more tape demand
VEIR buys at least some of its high-temperature superconducting (HTS) wire from outside producers. In July 2026 South Korea’s SuNAM disclosed a ₩430 million contract to supply superconducting wire products to VEIR, running from 13 July to 13 October 2026. That contract ended five days after the Series C was announced, and the announcement gives no tape volumes or supplier.
If VEIR expands manufacturing as reported, its tape purchases should rise with it. For tape producers, the item to watch is whether SuNAM discloses a follow-on order or a second supplier appears.