DG Matrix has raised $60 million in an oversubscribed Series A round to scale its solid-state transformer platform for AI data centers and electrification projects. The funding, led by Engine Ventures, brings total capital raised to more than $100 million. New and returning investors include Helios Climate Ventures, Mitsubishi Heavy Industries, Ltd., Fine Structure Ventures, MCJ, Sabanci Climate Ventures, and ABB. The Morrisville, North Carolina–based company said it will use the capital to expand manufacturing, strengthen its supply chain, and accelerate commercial deployments.
DG Matrix has commercialized a multi-port solid-state transformer designed to address power bottlenecks tied to AI-driven electricity demand. Its Interport platform integrates grid, solar, battery, and generator inputs into a unified system intended to reduce time-to-power from years to months. CEO Haroon Inam said the company is working with hyperscalers, energy companies, and industrial customers, with multiple gigawatt-class data center projects in the pipeline across North America and other regions.
The company also expanded its ecosystem partnerships. DG Matrix recently announced a strategic relationship with Exowatt to deploy behind-the-meter power systems for hyperscale data centers. It also disclosed a collaboration with PowerSecure, a subsidiary of Southern Company, to deliver distributed energy systems nationwide. In addition, DG Matrix was named to the 2026 Global Cleantech 100 list, reflecting growing investor and customer interest in alternatives to conventional grid infrastructure for AI-scale loads.
• Raised $60 million Series A; total funding now exceeds $100 million
• Engine Ventures led the round; ABB and other existing investors added capital
• Commercialized a multi-port solid-state transformer under the Interport platform
• Targeting hyperscale AI data centers and large-scale electrification projects
• Expanding manufacturing, certifications (UL, IEEE), and field deployment teams
• Partnered with Exowatt for gigawatt-scale, behind-the-meter systems
• Collaborating with PowerSecure to deploy distributed energy solutions
“DG Matrix represents exactly the kind of infrastructure innovation the energy transition demands,” said Michael Kearney, PhD, General Partner at Engine Ventures. “Its solid-state transformer platform solves real bottlenecks in power deployment for AI and electrification, not in theory, but in commercial deployments today.”
🌐 Analysis: DG Matrix’s funding reflects intensifying investment in power-conversion and grid-edge technologies as AI data center developers confront interconnection delays and capacity constraints. The move aligns with broader industry activity around behind-the-meter generation, modular energy systems, and advanced power electronics, as hyperscalers and utilities seek alternatives to traditional substation buildouts.
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