DG Matrix has closed a $60 million Series A round, bringing its total capital raised to over $100 million. Engine Ventures led the oversubscribed round, with participation from Helios Climate Ventures, Mitsubishi Heavy Industries, Fine Structure Ventures, MCJ, and Sabanci Climate Ventures. All existing investors recommitted capital in this round, including ABB, a major technology company focused on electrification and automation.
The round's oversubscription signals strong investor confidence in DG Matrix's position within the power infrastructure market. The company, which builds solid-state transformer solutions, says the new funding will allow it to scale both production and commercial deployments at a time when demand for resilient, high-capacity power systems is accelerating.
AI workloads are consuming electricity at a pace that legacy grid infrastructure was never designed to handle. Data center operators face long lead times, constrained grid interconnection queues, and aging power equipment that can't meet modern uptime requirements. The problem isn't just about building more capacity — it's about building smarter systems that can absorb variable loads and integrate multiple energy sources without compromising reliability.
DG Matrix has commercialized what it describes as the world's first multi-port solid-state transformer. Its Interport platform integrates solar, battery, generator, and grid power in a single architecture, cutting time-to-power from years to months. The technology is designed to meet the demands of pulse-load-heavy AI compute environments, which require infrastructure that reacts faster than traditional transformers allow.
The Series A proceeds will fund several areas of growth. Manufacturing and supply chain operations for the Interport platform will be scaled to meet growing commercial demand. The company plans to expand its engineering, sales, and field deployment teams, and will invest in advancing UL, IEEE, and international certifications needed to enter new markets.
Beyond operations, DG Matrix is targeting global deployments at gigawatt scale. The company recently announced a strategic partnership with Exowatt, a next-generation renewable energy company backed by a16z and Sam Altman, to deploy behind-the-meter power systems for hyperscale data centers. Exowatt selected the Interport platform as its preferred power-conversion architecture for its modular P3 generation and storage systems, a signal that the technology can meet the demanding uptime and power quality standards that AI compute requires.
"This Series A marks our transition from breakthrough technology to scaled infrastructure deployment," said Haroon Inam, CEO of DG Matrix. "We are working with hyperscalers, energy companies, and industrial customers across North America and globally, with multiple gigawatt-class datacenters in the pipeline."
DG Matrix was founded to address a fundamental gap in power infrastructure: the inability of existing transformer technology to keep up with modern electrical demands. The Interport platform is built around a standardized, multi-port architecture that enables faster deployment, lower energy costs, and flexible integration across energy sources and loads.
The company has been named to the 2026 Global Cleantech 100 and announced a strategic collaboration with PowerSecure, a subsidiary of Southern Company, to deliver next-generation energy systems across the United States. These milestones reflect growing external validation of DG Matrix's technical approach.
Engine Ventures, the round's lead investor, is a Cambridge-based venture firm focused on Tough Tech companies building in foundational industries. The firm provides capital alongside operational expertise and access to academic, commercial, and government networks.
DG Matrix has now raised over $100 million in total, with a consistent base of investors who have continued to participate across rounds. Returning participants include ABB, Helios Climate Ventures, Mitsubishi Heavy Industries, Fine Structure Ventures, MCJ, and Sabanci Climate Ventures. The oversubscribed nature of this Series A suggests the company is entering its next phase with both capital and investor alignment firmly in place.
"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."
