Heron Power, a Berkeley-based startup founded by former Tesla executive Drew Baglino, has secured $38 million in Series A funding to develop solid-state transformers—an upgrade to the century-old technology at the core of today’s electrical grid.
These new transformers, targeting medium-voltage applications, promise to be more compact and responsive than their analog predecessors, enabling greater efficiency across infrastructure from substations to residential power systems.
Backed by industry heavyweights
The round was led by Capricorn Investment Group, with notable participation from Breakthrough Energy Ventures, Energy Impact Partners, Gigascale Capital, Powerhouse Ventures, and Valor Equity Partners. Tesla co-founder JB Straubel and former CFO Zach Kirkhorn also joined the round.
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Go-to-market timeline and partners
Heron Power plans to roll out initial installations in early 2027, with major partnerships already forming in the energy and data center sectors.
The company’s cutting-edge technology could play a key role in strengthening grid infrastructure amid increasing energy demands and electrification trends.
