What is VEIR?
Established in 2019 and headquartered in Boston, Massachusetts, VEIR is at the forefront of developing high-temperature superconductors (HTS) specifically engineered for electricity transmission. The company's technology aims to address critical challenges in energy efficiency and grid stability, positioning it as a key player in the clean energy transition. VEIR's focus on HTS for power grids signifies a commitment to scalable, impactful solutions for modernizing energy infrastructure.
How much funding has VEIR raised?
VEIR has raised a total of $760M across 2 funding rounds:
Series A
$10M
Series B
$750M
Series A (2021): $10M with participation from Breakthrough Energy Ventures, The Engine, and Congruent Ventures
Series B (2025): $750M led by Munich Re Ventures
Key Investors in VEIR
Munich Re Ventures
Munich Re Ventures, a venture capital firm established in 2018, provides capital investments and strategic corporate ventures, likely focusing on innovative technologies with significant market potential.
Breakthrough Energy Ventures
Breakthrough Energy Ventures (BEV) invests in cutting-edge companies aiming for net-zero emissions, with a focus on transformative clean energy innovations across various sectors, including electricity.
The Engine
The Engine, built by MIT, is a venture firm that invests in 'Tough Tech' companies addressing major challenges in climate change and advanced systems, aligning with VEIR's mission to advance energy infrastructure.
What's next for VEIR?
The substantial enterprise-level funding, particularly the recent major strategic investment, indicates VEIR is poised for significant scaling and market penetration. This capital infusion will likely accelerate the commercialization of its HTS technology, enabling broader deployment in electricity transmission networks. The company's trajectory suggests a move towards large-scale pilot projects and strategic partnerships to integrate its advanced materials into existing and future energy systems, driving efficiency and sustainability in power distribution.
See full VEIR company page
