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 four-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.
Techcrunch event TechCrunch Founder Summit 2026: Tickets Live On June 23 in Boston, more than 1,100 founders come together at TechCrunch Founder Summit 2026 for a full day focused on growth, execution, and real-world scaling. Learn from founders and investors who have shaped the industry. Connect with peers navigating similar growth stages. Walk away with tactics you can apply immediately
Save up to $300 on your pass or save up to 30% with group tickets for teams of four or more. TechCrunch Founder Summit: Tickets Live On June 23 in Boston, more than 1,100 founders come together at TechCrunch Founder Summit 2026 for a full day focused on growth, execution, and real-world scaling. Learn from founders and investors who have shaped the industry. Connect with peers navigating similar growth stages. Walk away with tactics you can apply immediately
... continue reading