Heron Power Raises $38M in Series A Funding

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Here’s the requested information in a structured format:

Company Details

Founders

  • CEO and Founder: Drew Baglino

Fundraising Details

  • Total Raised: $43M (including previous funding)
  • Series: Series A
  • Amount Raised in Series A: $38M
  • Date of Funding: February 6, 2025

Investors

  • Lead Investor: Capricorn Investment Group’s Technology Impact Fund
  • Other Investors:
    • Breakthrough Energy Ventures
    • Energy Impact Partners
    • Gigascale Capital
    • Powerhouse Ventures
    • Valor Equity Partners
    • JB Straubel (Tesla co-founder)
    • Zach Kirkhorn (former Tesla CFO)

Use of Funds

  • Expand team
  • Complete engineering of the Heron Link (a solution that displaces legacy transformers and power converters)

Additional Information

  • The company is developing industrial power electronics solutions aimed at enhancing the electricity sector.
  • The product enables direct connections to medium voltage transmission without traditional transformers.
  • Target timelines:
    • Internal pilot in 2026
    • Partner installations in early 2027
  • Manufacturing planned in the US.

If you need further details, feel free to ask!

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2025-06-02 08:22:35