Heron Power $140M Series B — Heron Link solid-state transformer for grid modernization
Heron Power raises $140M Series B co-led by Andreessen Horowitz (a16z American Dynamism Fund) and Breakthrough Energy Ventures. CEO Drew Baglino (ex-Tesla SVP Powertrain & Energy, 18 years at Tesla) founded Heron to build solid-state transformers (Heron Link) that directly connect solar, batteries, and data center compute to medium-voltage AC grids — eliminating traditional transformers. Plans 40 GW/year manufacturing capacity. Additional investors: Capricorn Investment Group, Energy Impact Partners, Valor Atreides AI Fund, Gigascale Capital. HQ: Scotts Valley, CA.
$140M
Deal Value
Other
Technology
CA
Location
Deal Details
- Deal Type
- Strategic & Growth Capital
- Seller / Sponsor
- Heron Power
- Buyer / Financier
- Andreessen Horowitz (a16z American Dynamism Fund, co-lead), Breakthrough Energy Ventures (co-lead), Capricorn Investment Group, Energy Impact Partners, Valor Atreides AI Fund, Gigascale Capital
- Deal Value
- $140M
- Stage
- Growth
Capital Structure
$140M
Total transaction value
Tranches
- Series B equity · Andreessen Horowitz (a16z American Dynamism Fund) and Breakthrough Energy Ventures (co-leads); Capricorn Investment Group, Energy Impact Partners, Valor Atreides AI Fund, Gigascale Capital (participants)
- $140M
Service Providers
Advisory & Legal
- developerCounsel
- Wilson Sonsini Goodrich & Rosati
Finance Counterparties
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