Amperesand closed an $80 million Series A round co-led by Walden Catalyst Ventures and Temasek, aiming to scale its medium-voltage solid-state transformer (MV SST) platform for AI data centers and critical power sites. The company plans to deliver 30MW of commercial MV SST systems in 2026, targeting hyperscale operators facing grid constraints, long equipment lead times, and fast-ramping power requirements for next-generation GPU clusters. The round adds Industry Ventures, Acclimate Ventures, and SG Growth Capital, alongside continued backers Xora Innovation, Material Impact, TDK Ventures, and Foothill Ventures.
Amperesand said its MV SST architecture reduces electrical footprint by more than 80% and enables up to a 10× faster time-to-power through integrated hardware, software, and real-time control systems. The platform is designed to halve installation labor and support both on-grid and off-grid deployments, addressing growing reliability and interconnect challenges for AI data center build-outs. The company plans to expand engineering and manufacturing in the U.S. and Singapore as demand for higher-density, lower-latency power delivery accelerates.
The first commercial deployments begin in early 2026 with PSA International at the Port of Singapore, followed by multiple pilots with hyperscale AI customers. Amperesand was spun out of Nanyang Technological University in 2023 after eight years of SST R&D and completed full-power and bidirectional testing of its Gen-2 system in 2024. The company scaled U.S. operations in 2025 and expects to surpass 100 employees by year-end.
• $80M Series A co-led by Walden Catalyst Ventures and Temasek
• 30MW of MV SST systems to ship in 2026 to AI data center and critical-power customers
• MV SST platform claims 10× faster time-to-power and >80% smaller footprint
• First commercial project launches at the Port of Singapore in early 2026
• Multiple hyperscale AI pilots secured for 2026
• Company expanded to San Francisco and Reno with global headcount passing 100 in 2025
“Our solution is an intelligent, universal Medium Voltage power source that works on-and-off grid to improve critical infrastructure resilience as new large electrical loads come online,” said Brian Dow, CEO and Co-Founder of Amperesand.
🌐 Analysis
Amperesand’s raise follows growing investment into power-delivery technologies that can ease multi-year utility lead times now slowing hyperscale AI build-outs. The move also builds on the momentum of its U.S. expansion in 2025 and aligns with parallel efforts across the sector—from Schneider Electric, Eaton, and startups pursuing high-density power conversion—to support 800VDC and multi-megawatt GPU clusters.
🌐 We’re tracking the latest developments in data-center power and AI infrastructure. Follow our ongoing coverage at: https://convergedigest.com/category/data-centers/
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