• Investment accelerates commercialization and scaling of Amperesand’s industry-defining Medium Voltage Solid State Transformer power solution
• 30MW of commercial systems to be delivered in 2026 to Hyperscale AI data center and critical power customers

Amperesand, a leader in next-generation power infrastructure for AI data centers and critical power applications, today announced the closing of an $80 million Series A funding round co-led by Walden Catalyst Ventures and Temasek.

The oversubscribed round welcomed new investors Industry Ventures, Acclimate Ventures, and SG Growth Capital, alongside continued participation from Xora Innovation, Material Impact, TDK Ventures and Foothill Ventures.

Amperesand’s Medium Voltage Solid-State Transformer (MV SST) platform delivers a fundamental leap in power density, efficiency, and scalability for AI data centers, defense, and megawatt charging solutions.

The investment supports deployment of 30MW of commercial systems in 2026 with a special focus on hyperscale AI customers who have critical reliability, urgent time to power, and extreme compute power density requirements. Amperesand is expanding its engineering and manufacturing operations in the U.S. and Singapore to meet surging global demand for critical power solutions.

Young Sohn, Founding Managing Partner at Walden Catalyst Ventures highlights, “AI is redefining the limits of computing. But without a revolution in power infrastructure, this growth simply can’t scale. Amperesand is tackling one of the biggest bottlenecks in data center power delivery by leveraging new high-power, semiconductor-enabled technologies for faster, more efficient, and more sustainable access to energy.”

Meeting Modern Energy Demands & Eliminating Power Bottlenecks for AI

Global power infrastructure is struggling to keep up with soaring electricity demand driven by historic growth in data centers processing AI training and inference workloads. Lead times for traditional electrical equipment – including transformers, switchgear and uninterruptible power supply systems – have quadrupled since 2019, now averaging 12 to 24 months¹. Without intelligent power management and controls, these large critical power users risk causing grid instability and service outages which can impede interconnect approval.

Amperesand's MV SST platform delivers a new foundation for critical power infrastructure. The solution cuts installation labor needs in half and accelerates time to power by 10x through an integrated design, unifying hardware, software and intelligent controls into a single ultra-compact product. The resulting over 80% reduction in electrical footprint and dramatically simplified civil works enable faster, more flexible expansion of high-power facilities.

Built on secure, regionalized supply chains, Amperesand’s platform is ready for unconstrained global deployment. By combining AI-native software controls, advanced cyber security, and a patented power electronics solution, Amperesand provides Hyperscalers and grid operators with an accelerated and reliable path to power without compromising grid stability.

“Amperesand is obsessed with revolutionizing Medium Voltage to critical load power delivery for next generation AI data centers, defense, and other essential electrified assets. We focus on first principles to achieve market leading power density, efficiency, and reliability,” said Brian Dow, CEO and Co-Founder of Amperesand. “In this era of AI data center and other critical power systems becoming economic and national security interests for many countries, Amperesand’s MV SST Platform enables in-country cyber-secure controls and data, regionally available supply chains, and low CAPEX intensity local manufacturing. 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.”

Commercial Momentum & Scaling Execution Capability

Amperesand is delivering its first commercial units in early 2026 to the Port of Singapore, supporting a mission critical charging pilot with PSA International. Multiple additional 2026 commercial pilots are secured to enable hyperscale AI customers to achieve fast deployment of next-generation GPUs with Amperesand’s MV SST-based power architecture.

These milestones build upon a deep foundation in advanced power electronics. Amperesand was incubated by Xora Innovation and spun out of Singapore’s Nanyang Technological University in 2023, leveraging eight years of sector-leading R&D in SST technology. In 2024, the company successfully completed full-power, overload, and bidirectional testing of its Generation 2 system — scalable, foundational blocks for its commercial MV SST platform.

In 2025, Amperesand expanded rapidly in the US, establishing engineering and advanced manufacturing hubs in San Francisco and Reno. The company expects to exceed 100 employees globally by the end of 2025, strengthening its capability to deliver advanced power systems at scale.

“Over the past two years, Amperesand’s rate of progress on advancing MV SST productization across key metrics such as power density and cost has exceeded our expectations. The company is now ready to deploy a product that will completely redefine power infrastructure across mission-critical industries,” said Phil Inagaki, Managing Partner & Chief Investment Officer at Xora. “With $80M in fresh funds and an aggressive deployment schedule in 2026 across multiple customers, we expect Amperesand will extend its lead as the SST category leader.”

About Amperesand

Amperesand is a next-generation power infrastructure provider, designing advanced power conversion solutions that enable Artificial Intelligence (AI) data centers and critical power applications to operate with maximum efficiency, reliability, and scalability. Amperesand is led by a team of industry veterans with international operations across San Francisco, California, Reno, Nevada, and Singapore. For more information, visit www.amperesand.io or contact us at info@amperesand.io.

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