DG Matrix raises $60M to make data center power smarter

Source: TechCrunch

Funding round

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 participation from ABB, Cerberus Ventures, Chevron Technology Ventures, Clean Energy Ventures, Fine Structure Ventures, Helios Climate Ventures, MCJ, and Piedmont Capital.

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.

Interport device

The Interport device acts as a router for power, according to Subhashish Bhattacharya, co‑founder and CTO of DG Matrix. One Interport can handle up to 2.4 MW of connections. For example, it could combine 600 kW from solar panels and 600 kW from grid‑scale batteries to feed power to 12 racks drawing 100 kW 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.

Efficiency and rollout

By eliminating several legacy devices, the company can boost overall system efficiency. The chained legacy devices achieve about 82 %–90 % efficiency, whereas Interport operates at 95 %–98 % efficiency. Inam added that reliability should improve as well: “When you are using only 10 %–15 % of the components that legacy is using, you’re going to be far more reliable.”

DG Matrix is rolling out initial units to customers in June. Its next product will be a sidecar that supplies data‑center racks with power, building on the technology already developed.

Future applications

Currently, data centers represent about 90 % of DG Matrix’s pipeline, with the remainder focused on EV charging for fleets. Inam said the next step is to expand into building power and add capacity to create micro‑ and mini‑grids that support electrification projects in remote communities. In those settings, 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.”