DG Matrix Secures $20 Million to Advance Multi-Port Solid-State Transformer Solutions for EV Charging

In a significant move for the electrification industry, DG Matrix, a leading provider of solid-state transformer solutions, has raised $20 million in an oversubscribed seed funding round. The investment was led by Clean Energy Ventures, with participation from industry heavyweights such as ABB, Cerberus Ventures, Chevron Technology Ventures, and Piedmont Capital. This new funding brings DG Matrix’s total investment to nearly $30 million, setting the stage for the company’s continued efforts to revolutionize the energy sector across electrification, AI datacenters, and more.

DG Matrix’s flagship product, the Power Router platform, is designed to optimize energy performance while addressing some of the most pressing challenges in the current energy landscape. These include the constraints on power grids caused by the rapid rise in demand for electricity from various sectors, including building electrification, fleet charging, and AI datacenters. As fleet electrification accelerates, utilities and grid operators are under increasing pressure to meet the demand for fast, efficient charging infrastructure.

The Power Router is an innovative solution that integrates multiple AC and DC energy sources and loads, effectively replacing traditional electrical systems with a more flexible, cost-effective, and reliable solution. By offering real-time, dynamic management of electricity, this platform aims to reduce energy costs, improve grid stability, and make it easier for energy providers to balance supply and demand, especially as more EVs hit the road.

DG Matrix has already secured significant purchase orders for 2025 and 2026, and it plans to begin pilot deployments in Q2 2025. A full commercial launch is slated for early Q3 2025, marking an exciting new chapter in the company’s development. The technology is designed to be scalable from hundreds of kilowatts to multi-MW, accommodating electrification applications from small C&I sites to major fleet charging depots and supermarkets.

“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.”

Why is this Investment Important?

The success of this new funding round also indicates the growing interest and commitment from investors in clean energy technologies and the future of electrification. As more governments, particularly in North America and Europe, push for greater electrification through regulations, incentives, and mandates, the demand for efficient electrification infrastructure will continue to rise. DG Matrix is positioning itself as a key player in this rapidly expanding market, providing critical infrastructure that supports the global transition to electric mobility.

The funding secured by DG Matrix will also support the scaling of its production capabilities and help the company advance its efforts to deploy its solutions at scale. The goal is not only to meet the immediate needs of fleet and building owners but to future-proof energy infrastructure for a quickly-developing future.

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