MCJ announces investment in DG Matrix's solid-state transformers

MCJ has announced its investment in DG Matrix by backing the company’s $60M Series A.

• Announcement details: MCJ backed DG Matrix in a $60M Series A led by Engine Ventures with participation from Clean Energy Ventures, Cerberus Ventures, Chevron Technology Ventures, Fine Structure Ventures, and others; DG Matrix (founded 2022, Raleigh, North Carolina) is commercializing multiport solid-state transformers (SSTs) for data centers, microgrids, and fleet electrification, offering a single 4×4-foot Interport that replaces multi-skid power stacks (e.g., two 4×30-foot skids), consolidating 10 components into one unit with a 15× smaller footprint and up to 90% lower system cost.
• Background and implementation context: DG Matrix was founded by Haroon Inam (former CTO of Smart Wires) and Dr. Subhashish Bhattacharya; Inam led Smart Wires to an IPO and achieved a $40M ramp within the first three months of production, while Bhattacharya has extensive publications (800+ citations) underpinning SST control; DG Matrix has begun collaborations with Exowatt and plans low-voltage and medium-voltage offerings for early adopter deployments; MCJ states it will explore related grid components (inverters, substations, wide-bandgap semiconductors) and cites examples like NVIDIA’s 800V DC architecture and Sun Cable’s HVDC as context for DC-native shifts.