US solid state transformer developer DG Matrix has raised $60 million as part of its Series A funding, led by Engine Ventures.

The latest round brings the company’s total capital raised to more than $100m. DG Matrix has said that the funding will support it in its mission to transform power infrastructure for AI data centers and mass electrification.

“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 data centers in the pipeline. This capital will scale our manufacturing and supply chain, expand our team, and accelerate deployments supporting the explosive growth of AI data centers and electrification. We’re setting a new benchmark for how large-scale power systems are designed, deployed, and managed.”

The capital is expected to fund the company’s next phase of growth, which includes scaling manufacturing and supply chain operations for the Interport platform, expanding engineering, sales, and field deployment teams, as well as deepening strategic partnerships with data center developers.

DG Matrix claims to have commercialized the world's first multi-port solid-state transformer, a technology that simplifies the integration of diverse power sources and loads.

The company's standardized platform is designed to enable faster deployment and lower energy costs compared to conventional transformer-based architectures, while supporting flexible configurations of renewables, battery storage, and utility grid connections.

The Series A funding round closely follows a partnership agreement with energy storage firm Exowatt. The deal will pair Exowatt’s heat-battery-based dispatchable solar technology with DG Matrix’s solid-state transformer. The companies said the integrated system is designed to support behind-the-meter power architectures at a gigawatt scale, sidestepping the grid interconnection queues that have become a major bottleneck for new data center capacity across the United States.

DG Matrix has also partnered with PowerSecure, a Southern Company subsidiary, to accelerate the deployment of next-generation power infrastructure for AI data centers and large-scale electrification projects.