What is VEIR?
VEIR operates at the intersection of materials science and energy infrastructure. The company specializes in high temperature superconductors, which allow for the transmission of electricity with significantly lower losses compared to conventional copper or aluminum lines. By cooling these superconductors to operational temperatures, VEIR provides a solution that enables higher power density in smaller footprints, effectively addressing the capacity constraints that currently plague aging electrical grids. As a key player in the climate technology sector, VEIR is uniquely positioned to support the electrification of the economy, providing the necessary hardware to move clean energy from generation sites to urban centers with unprecedented efficiency.
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 The Engine, Congruent Ventures, and Breakthrough Energy Ventures
Series B (2025): $750M led by Munich Re Ventures
Key Investors in VEIR
Munich Re Ventures
Munich Re Ventures is a venture capital and private equity firm that provides strategic corporate investment, focusing on high-growth companies that align with the evolving needs of the global insurance and energy sectors.
The Engine
Built by MIT, The Engine specializes in Tough Tech, providing long-term capital to companies that apply cutting-edge scientific breakthroughs to solve complex challenges in climate change and infrastructure.
Breakthrough Energy Ventures
Backed by global business leaders, BEV invests in companies with the potential to significantly reduce emissions across key sectors, including electricity and manufacturing, to achieve net-zero goals.
What's next for VEIR?
With the successful closure of this major enterprise-level funding, VEIR is poised to accelerate its go-to-market strategy. The company is expected to focus on pilot projects and strategic partnerships with utility providers to demonstrate the scalability and reliability of its HTS systems in real-world environments. As the global demand for grid modernization intensifies, VEIR's ability to deliver high-capacity, low-loss transmission will be a critical factor in achieving net-zero targets. Future growth will likely involve expanding manufacturing capabilities and refining the integration of its cooling systems with existing grid infrastructure, ensuring that the company remains at the forefront of the energy transition.
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