Heron Power Secures $140M in Series B Funding

The electric grid is the most important machine in the modern world, and it still runs on hardware designed when disco was considered advanced technology. Transformers humming like they are stuck in 1978 while AI data centers are pulling power like a Vegas residency. That tension right there is where fortunes are made.

Heron Power just secured $140M in Series B funding to modernize that bottleneck, co-led by Andreessen Horowitz through American Dynamism and Breakthrough Energy Ventures. That is not loose change. That is conviction capital. Add the earlier $38M Series A led by Capricorn Investment Group’s Technology Impact Fund, plus support from Energy Impact Partners, Valor Equity Partners, Gigascale Capital, Powerhouse Ventures, and individual investors JB Straubel and Zach Kirkhorn, and you are looking at roughly $183M fueling 1 idea. Build the hardware the next century actually needs.

Drew Baglino, Founder and CEO, did not come out of nowhere. Nearly 2 decades at Tesla. From electrical engineer to Powertrain Architect on the 2012 Model S. Built the energy engineering organization. Helped drive Powerwall, Powerpack, Megapack. Led the 4680 battery cell effort. Oversaw global charging and energy businesses as Senior Vice President of Powertrain and Energy. When someone with that résumé says transformers are the choke point, I listen.

Heron Power is developing Heron Link, a modular solid state transformer platform designed to connect generation and load directly into medium voltage transmission. Translation for the boardroom and the job site. Fewer legacy boxes. More intelligence in the metal. Faster grid connections for utility scale renewables, storage, and AI data centers that are inhaling electrons by the gigawatt.

And the market is not whispering. It is shouting. More than 40GW of customer interest. That is not a vanity metric. That is a queue forming at the door. The Series B will fund a highly automated United States manufacturing facility sized for 40GW of deployment capacity. Scale is the strategy. Automation is the discipline. Domestic production is the leverage.

There is something poetic about the name. A heron stands still, patient, precise, then strikes. Power does not have to be loud to be dominant. Sometimes it is about timing, positioning, and knowing exactly where the current is going next.