What is VEIR?
Founded in 2019 and headquartered in Boston, Massachusetts, VEIR is a developer of high-temperature superconductors designed to facilitate more efficient electricity transmission. The company operates at the intersection of deep tech and utility-scale infrastructure, focusing on the deployment of HTS systems that can carry significantly more power than traditional copper-based lines. By minimizing energy loss and reducing the physical footprint of transmission corridors, VEIR provides a scalable solution for modernizing aging electrical grids. The company's market position is bolstered by its ability to integrate into existing energy networks, offering a pathway to decarbonization that is both technically feasible and economically viable for large-scale utility providers.
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 is a venture capital and private equity company that offers capital investments and strategic corporate ventures, focusing on high-impact industrial and technological sectors.
Breakthrough Energy Ventures
Backed by global business leaders, Breakthrough Energy Ventures invests in cutting-edge companies that aim to lead the world to net-zero emissions through transformative clean energy innovations.
The Engine
Built by MIT, The Engine invests in the next generation of Tough Tech, applying cutting-edge research to solve complex challenges in climate change and advanced infrastructure.
What's next for VEIR?
With this major enterprise-level funding, VEIR is poised to accelerate its commercialization efforts and scale its manufacturing capabilities. The strategic capital will likely be deployed toward pilot projects and the refinement of its proprietary cooling and transmission systems. As the global demand for renewable energy integration grows, VEIR's technology serves as a critical enabler for connecting remote clean energy sources to urban load centers. Future growth will depend on the company's ability to navigate regulatory landscapes and demonstrate long-term reliability in real-world grid environments. Investors are closely watching VEIR as it transitions from a research-heavy development phase to a deployment-focused enterprise, aiming to set a new standard for global power transmission efficiency.
See full VEIR company page
