What is VEIR?
VEIR is at the forefront of developing high-temperature superconductors (HTS) specifically engineered for electricity transmission applications. By creating advanced HTS materials, VEIR aims to revolutionize the efficiency and capacity of power grids, addressing critical needs in energy infrastructure. The company's focus on this cutting-edge technology positions it as a key player in the transition towards more sustainable and robust energy systems. This strategic focus on HTS for transmission is crucial for modernizing electrical grids and enabling the widespread integration of renewable energy sources.
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, Breakthrough Energy Ventures, and Congruent Ventures
Series B (2025): $750M led by Munich Re Ventures
Key Investors in VEIR
The Engine
The Engine, built by MIT, is a venture firm investing in Tough Tech, focusing on solutions for human health, climate change, and advanced systems. They aim to transform industries for a more sustainable world.
Breakthrough Energy Ventures
Breakthrough Energy Ventures (BEV) invests in companies aiming for net-zero emissions, supporting entrepreneurs building solutions for agriculture, buildings, electricity, manufacturing, and transportation.
Congruent Ventures
Congruent Ventures is a climate-focused investment firm backing early-stage companies in North America, specializing in climate technology and resource efficiency to drive carbon reduction.
What's next for VEIR?
With the recent major strategic investment and substantial overall enterprise-level funding, VEIR is poised for significant expansion and technological advancement. The company's trajectory suggests a move towards scaling its HTS production capabilities and accelerating the deployment of its solutions in real-world electricity transmission networks. This backing will likely fuel further research and development, enabling VEIR to solidify its market position and drive the adoption of its innovative superconductor technology. The substantial capital indicates confidence in VEIR's ability to address large-scale energy challenges.
See full VEIR company page
