DG Matrix raises $60M for data center power
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- DG Matrix raised a $60M Series A led by Engine Ventures, with ABB, Cerberus Ventures, Chevron Technology Ventures, Clean Energy Ventures, Fine Structure Ventures, Helios Climate Ventures, MCJ, and Piedmont Capital participating.
- Interport, DG Matrix's solid-state transformer, acts as a power router handling up to 2.4 MW per unit, integrating sources like solar panels and grid-scale batteries to feed individual data center racks drawing 100 kW each.
- DG Matrix says one Interport can replace two 4-by-30-foot skids of legacy power conversion equipment with a single 4-by-4-foot device, and eliminate uninterruptible power supplies (UPS) and their supporting infrastructure.
- Interport operates at 95-98% efficiency compared to 82-90% for chained legacy devices, and uses only 10-15% of the components — which CEO Haroon Inam said should make it 'far more reliable.'
- DG Matrix recently announced a deal to supply Interport devices to Exowatt, a startup building solar-plus-storage containers designed to deliver 24/7 electricity to data centers.
- DG Matrix is rolling out initial units to customers in June and developing a 'sidecar' product to supply power directly to data center racks.
- About 90% of DG Matrix's pipeline targets data centers, with the remainder in EV fleet charging; CEO Inam said future plans include micro- and mini-grids for remote communities to address energy poverty.
Why it matters: Data centers face a power-density squeeze as AI workloads push rack power higher, and DG Matrix says its solid-state transformer cuts floor space, lifts efficiency from roughly 90% to 95-98%, and eliminates UPS hardware — a concrete infrastructure cost and reliability gain for hyperscalers and colocation operators preparing for the next wave of dense compute.
