Heron Power, a Scotts Valley, CA-based energy infrastructure company, raised $38M in Series A funding.
The round was led by Capricorn Investment Group’s Technology Impact Fund, with participation from Breakthrough Energy Ventures, Energy Impact Partners, Gigascale Capital, Powerhouse Ventures, Valor Equity Partners, Tesla co-founder JB Straubel, and former Tesla CFO Zach Kirkhorn.
The company intends to use the funds to expand its team and complete engineering of the Heron Link, a solution displacing legacy transformers and power converters.
Led by CEO and Founder Drew Baglino, Heron Power Electronics Company is developing industrial power electronics solutions helping the electricity sector to grow with scalable, and software-integrated infrastructure. Its modular solid state transformer technology enables renewable energy, storage, and datacenter developers to directly connect to medium voltage transmission without the use of a transformer.
The company is targeting an internal pilot in 2026, partner installations in early 2027, and plans to manufacture Heron Link in the US. The team brings deep technical expertise, having collectively designed and deployed over 80 gigawatts of grid-connected power electronics over the past decade.
The round brought the total funding to $43M.
FinSMEs
02/06/2025