Rust Belt Industrials
Equipment Manufacturing / Solid-State Transformers

DG Matrix

Raleigh, NCStartupdgmatrix.com
Total Funding
$140M
Founded
2020
Employees
251-500
Headquarters
4601 Six Forks Road, Suite 513, Raleigh, NC 27609

DG Matrix is a Raleigh, North Carolina-based power technology company developing the Interport™ platform - the world's first multi-port solid-state transformer (SST) solution. Unlike legacy iron-core transformers, the Interport platform is a software-defined, modular, and hyper-scalable energy system that enables simultaneous multi-port power flow between medium-voltage AC grids, DC buses, batteries, and loads. It is designed to replace the complex web of traditional power conversion hardware with a single intelligent system that adapts in real time to dynamic energy demands. The company targets four high-growth verticals: AI data centers, commercial and industrial (C&I) electrification, EV fleet charging, and utility/grid applications.

DG Matrix's technology is especially significant for AI data centers, which require unprecedented power density and speed-to-power. The Interport platform allows data center operators to connect directly from medium-voltage grid feeds (12-34.5 kV) to high-voltage DC, bypassing multiple traditional conversion stages and dramatically reducing time-to-capacity, footprint, and total cost of ownership. The company's "SideCar" and "LV Skid" configurations address pulse-load mitigation and MW-scale powertrains respectively, while the "MV Skid" targets grid-edge and fleet electrification. DG Matrix is an NVIDIA Inception Program member and NVIDIA MGX Ecosystem Partner, validating its fit within next-generation AI infrastructure stacks. The company employs 250+ engineers across power electronics, software, controls, thermal, systems, and manufacturing disciplines.

For the US energy supply chain, DG Matrix represents a critical domestic manufacturing capability in solid-state transformers - a technology category currently dominated by foreign incumbents. With traditional transformer lead times stretching 2-4 years, DG Matrix's domestically manufactured Interport platform offers utilities, data center developers, and fleet operators a faster, more flexible alternative. The company has received prestigious recognition including the Duke Energy Innovation Award (DISTRIBUTECH 2025), Cleantech Top 100 designation (2026), and a Top 10 Innovator ranking from Darcy Partners. Its North Carolina manufacturing base, deep academic roots at NC State University (via co-founder Dr. Subhashish Bhattacharya), and strategic partnership with Mitsubishi Heavy Industries position it as a cornerstone of America's next-generation power infrastructure.

Funding

3 funding rounds total including a Seed round, a Grant, and a Series A led by Engine Ventures with 11 investors including Mitsubishi Heavy Industries and MCJ. Total raised approximately $140M. Former Clean Energy Ventures partner Peter Sopher serves as CFO, reflecting deep cleantech VC ties.

Investors

  • Engine Ventures (Series A Lead)
  • Mitsubishi Heavy Industries
  • MCJ (My Climate Journey)
  • Clean Energy Ventures (via CFO Peter Sopher)

Key People

  • Haroon Inam, Co-Founder & CEO
  • Dr. Subhashish Bhattacharya, Co-Founder & CTO (Distinguished Professor, NC State University)
  • Peter Sopher, CFO (Former Partner, Clean Energy Ventures)
  • Tasha Keadle, COO & Chief Supply Chain Officer (Former SVP, Schneider Electric)
  • Lon Cunninghis, Chief Commercial Officer
  • Karamjit Singh, Chief Delivery Officer
  • Rainer Stiller, Chief Marketing Officer (Former CMO, Vertiv)

News