DG Matrix Raises $60 Million In Series A Funding Led By Engine Ventures

DG Matrix, a startup focused on data center power management, has raised $60 million in a Series A funding round led by Engine Ventures, with contributions from various investors including ABB, Cerberus Ventures, Chevron Technology Ventures, Clean Energy Ventures, Fine Structure Ventures, Helios Climate Ventures, MCJ, and Piedmont Capital.

Summary of transaction details:

• Deal Type: Series A
• Transaction Amount: $60,000,000
• Company Name: DG Matrix
• Founders: Haroon Inam, Subhashish Bhattacharya
• Headquarters: Raleigh, North Carolina
• Notable Investors: Engine Ventures, ABB, Cerberus Ventures, Chevron Technology Ventures, Clean Energy Ventures, Fine Structure Ventures, Helios Climate Ventures, MCJ, Piedmont Capital

DG Matrix, co-founded by Haroon Inam and Subhashish Bhattacharya, is known for its Interport device, which integrates electricity from multiple sources, enhancing power efficiency for data center racks. The company plans to roll out initial units in June and aims to expand its solutions into electric vehicle charging, building power, and micro- and mini-grids for remote communities.