VEIR, a company developing a new approach to using High Temperature Superconductors (HTS) for electricity transmission, today announced $10 million in Series A financing and debuted a new architecture for high-voltage superconducting transmission lines to transform the grid. The company’s Series A investment was led by Breakthrough Energy Ventures (BEV), with participation from existing investor Congruent Ventures and new investor The Engine. The financing brings the company’s total funding to date to more than $12 million.
VEIR Raises $10M Series A and Debuts New Approach to Electricity Transmission to Transform the Grid
