Series A
DG Matrix Raises $60M Series A Led by Engine Ventures
•February 18, 2026
0
Participants
Why It Matters
The funding accelerates a technology that could slash data‑center energy waste, lower capital costs, and enable greener, more reliable power architectures across the industry.
Key Takeaways
- •DG Matrix raised $60M Series A.
- •Interport handles up to 2.4 MW power.
- •Replaces bulky transformers, improves efficiency to 95‑98%.
- •Cuts data center space, eliminates UPS.
- •Plans expansion to EV charging and micro‑grids.
Pulse Analysis
Data centers consume a growing share of global electricity, yet their power‑distribution infrastructure still relies on legacy transformers that are large, inefficient, and heat‑intensive. Solid‑state transformers promise to shrink footprints and raise conversion efficiency, a trend that has attracted venture capital attention. In June 2026, Boston‑based DG Matrix secured a $60 million Series A round led by Engine Ventures, with strategic investors such as ABB and Chevron Technology Ventures. The funding will accelerate production of its Interport device, a modular power router designed to replace traditional transformer‑UPS chains and integrate renewable sources directly into the rack‑level supply.
The Interport unit can manage up to 2.4 megawatts, aggregating power from solar panels, grid‑scale batteries, or other sources to feed multiple high‑density racks. By consolidating two 4‑by‑30‑foot skids of equipment into a single 4‑by‑four‑foot module, DG Matrix claims a space reduction of more than 80 percent. Efficiency climbs from the typical 82‑90 percent of legacy chains to 95‑98 percent, while component count drops to roughly 10‑15 percent, boosting reliability and lowering cooling demands. Eliminating uninterruptible power supplies also simplifies maintenance and reduces capital expenditures for operators.
The capital infusion positions DG Matrix to capture a sizable slice of a market where data centers account for roughly 90 percent of its pipeline, with the remainder targeting electric‑vehicle charging infrastructure. The company’s roadmap includes a sidecar power module for individual racks and a broader push into micro‑ and mini‑grids for remote communities, where its technology could replace costly transmission projects. If adopted at scale, the Interport could accelerate the decarbonization of data‑center power, improve uptime, and open new revenue streams for utilities and cloud providers seeking greener, more resilient energy solutions.
Deal Summary
DG Matrix, a solid‑state transformer startup, announced a $60 million Series A round led by Engine Ventures, with participation from ABB, Cerberus Ventures, Chevron Technology Ventures, Clean Energy Ventures, Fine Structure Ventures, Helios Climate Ventures, MCJ and Piedmont Capital. The funding will accelerate the rollout of its Interport power‑routing device for data centers and support expansion into EV‑charging and micro‑grid projects.
Article
Source: TechCrunch Enterprise
Data centers face a conundrum: how to power increasingly dense server racks using equipment that relies on century‑old technology.
Traditional transformers are bulky and hot, but a new generation of solid‑state transformers promises to address both problems while making power management more flexible.
One solid‑state transformer startup, DG Matrix, has raised $60 million in a Series A round, TechCrunch has exclusively learned. Engine Ventures led the round with ABB, Cerberus Ventures, Chevron Technology Ventures, Clean Energy Ventures, Fine Structure Ventures, Helios Climate Ventures, MCJ, and Piedmont Capital participating.
The company also recently announced a deal to provide its Interport device to Exowatt, the startup building solar‑plus‑storage containers to supply data centers with 24/7 electricity.
The Interport device acts as a router for power, Subhashish Bhattacharya, co‑founder and CTO of DG Matrix, told TechCrunch. One Interport can handle up to 2.4 megawatts of connections. For example, it could accumulate 600 kilowatts from solar panels and 600 kilowatts from grid‑scale batteries to feed power to 12 racks drawing 100 kilowatts each.
Because Interport can integrate electricity from a variety of sources, including large batteries, DG Matrix says it can eliminate uninterruptible power supplies (UPS) and the equipment needed to support them.
Altogether, one Interport can cut down the amount of space devoted to power conversion in a data center. Two 4‑by‑30‑foot skids laden with power conversion equipment can be replaced by a single four‑by‑four‑foot Interport device, DG Matrix co‑founder and CEO Haroon Inam told TechCrunch.
Boston, MA | June 9, 2026
By eliminating several devices, the company can boost the system’s overall efficiency. All the legacy devices chained together can achieve about 82 % to 90 % efficiency, Inam said, while Interport is 95 % to 98 % efficient. He added that reliability should improve, too. “When you are using only 10 %, 15 % of the components that legacy is using, you’re going to be far more reliable,” he said.
DG Matrix is in the process of rolling out initial units to customers in June. Its next product will be a sidecar to supply data‑center racks with power that builds on the technology the company has already developed.
Currently, data centers represent about 90 % of DG Matrix’s pipeline, with the remainder devoted to EV charging for fleets. Inam said the next step is to expand into building power and add more capacity to build micro‑ and mini‑grids to support electrification projects in remote communities. There, Interports would orchestrate power from solar, wind, and batteries to provide round‑the‑clock electricity without a grid connection.
“Nobody’s going to build a $100 million transmission line to a village,” Inam said. “Now you can spend a fraction of that money and help eliminate energy poverty.”
Tim De Chant – senior climate reporter at TechCrunch. He has written for Wired, the Chicago Tribune, Ars Technica, The Wire China, and NOVA Next, where he was founding editor. De Chant is also a lecturer in MIT’s Graduate Program in Science Writing and was awarded a Knight Science Journalism Fellowship at MIT in 2018. He holds a PhD in environmental science, policy, and management from the University of California, Berkeley, and a BA in environmental studies, English, and biology from St. Olaf College.
You can contact or verify outreach from Tim by emailing [email protected].
0
Comments
Want to join the conversation?
Loading comments...