Heron Power raises $140M to ramp production of grid-altering tech

Heron Power, founded by former Tesla executive Drew Baglino, has raised a $140M Series B led by Andreessen Horowitz's American Dynamism Fund and Breakthrough Energy Ventures. The round follows a $38M Series A just nine months prior, driven by over 40 gigawatts of customer demand for its solid-state transformers. The company's flagship product, Heron Link, replaces traditional iron-core transformers with semiconductor-based devices that are smaller, more efficient, and capable of handling 5 MW each. They convert medium-voltage electricity to 800V for Nvidia rack designs, include built-in lithium-ion batteries for 30-second power bridging, and can eliminate up to 70% of traditional data center power equipment. Heron Power plans to build a factory capable of 40 GW annual production, with pilot production starting in early 2027.