DG Matrix Raises $20 Million to Revolutionize Global Energy Infrastructure with the World’s First Multi-Port Solid-State Transformer

Oversubscribed seed round includes participation from climatetech VCs and strategics to accelerate AI data center optimization and enhance decarbonization

Raleigh, NC, March 11, 2025 - DG Matrix, the developer of the revolutionary Power Router platform, secured $20 million in an oversubscribed seed funding round to accelerate the commercialization of its solid-state transformer solutions for the electrification of industry and AI-driven data center markets. The funding round was led by Clean Energy Ventures with participation from industry leaders ABB; Cerberus Ventures, the venture investing platform of Cerberus Capital Management; Chevron Technology Ventures; and Piedmont Capital. The round, combined with earlier non-dilutive funding, brings DG Matrix’s total funding to nearly $30 million.

As global electricity demand surges, legacy infrastructure solutions are struggling to support the needs of AI data centers, building electrification, and electric vehicle charging. The DG Matrix Power Router platform delivers flexible, reliable solutions to enhance energy performance while alleviating grid constraints and reducing energy costs. Integrating multiple AC and DC energy sources and loads simultaneously enables the DG Matrix solution to replace 10-20 electrical systems with a more versatile, efficient, cost-effective, and reliable system.

“The unprecedented amount of electricity demand by AI and broader electrification is expected to further strain the grid and jeopardize grid reliability. Commercial markets are requiring a standardized, efficient solution to manage their complex electricity configurations in a cost-effective manner,” said Daniel Goldman, Co-founder and Managing Partner at Clean Energy Ventures. “We believe DG Matrix’s industry-agnostic solid-state transformer solutions will be paramount in alleviating grid pressure globally, enabling the U.S. to establish pre-eminence in AI delivery, and accelerating the transition to a cost-competitive and decarbonized energy system.”

“With our world-class team of business and technology leaders, highly differentiated technology, and a strong IP foundation, DG Matrix is positioned to bring unprecedented disruption to multiple multi-billion-dollar markets,” said DG Matrix CEO Haroon Inam. “By partnering with leading investors with a proven track record of driving commercial growth, we can accelerate deployment of our solutions to reshape energy infrastructure for a more resilient and sustainable future.”

The company is engaged with top customers across multiple market segments and has a robust pipeline with tens of millions in purchase orders for 2025 and 2026. DG Matrix will begin paid pilot deployments in Q1 2025, with a full commercial launch anticipated in late Q2 2025. The new funding will support commercialization and team growth. Following the financing, Vlatko Vlatkovic, Clean Energy Ventures’ Venture Partner and former CTO of GE Power Conversion, will join the DG Matrix Board of Directors.

About DG Matrix

DG Matrix is redefining the electrification industry with revolutionary solid-state transformer solutions for AI data centers and for electrification, including microgrids and integrated fleet EV charging. The company’s core Power RouterTM solutions unlock seamless integration of multiple energy sources and loads simultaneously with a single power-electronics system that offers unparalleled versatility, cost, efficiency, performance, and size advantages. DG Matrix is backed by a team of experienced executives, leaders, engineers, and advisors who have successfully commercialized disruptive energy technologies for decades. Learn more at www.dgmatrix.com.

About Clean Energy Ventures

Clean Energy Ventures (CEV) advances global climate solutions by backing exceptional leadership teams and game-changing technologies as they transform into market leaders that can mitigate 2.5 gigatons of CO2e by 2050. The CEV team harnesses decades of energy and climate tech operational experience to actively accelerate the commercialization of our portfolio companies. Founded in 2017, CEV manages over $415 million in assets and has funded over 30 early-stage companies across North America, Europe, and Israel. For more information, visit cleanenergyventures.com.