A Singaporean electrical infrastructure startup called Amperesand has raised more than US$12.4 million in initial money. Venture capital company Material Impact and Temasek’s deeptech early-stage investment platform Xora Innovation jointly led the deal.TDK Ventures, the venture arm of the Japanese electronics manufacturer TDK, participated in addition to Foothill Ventures.Amperesand, a company based at Nanyang Technological University (NTU), provides grid infrastructure solutions that can enhance the hardware used for EV charging. Amperesand’s system, which is based on solid-state transformer (SST) technology, has high-frequency transformers that are more effective than conventional ones. The company’s goal has been to bring its SST systems, which are suitable for high-power applications, to market. These include data centers, microgrids, and fast-charging options for electric cars.
Amperesand will be able to industrialize and produce its technology on a large scale thanks to the seed money.
Phil Inagaki, managing director of Xora Innovation, stated that the moment is right for SST commercialization.
Initially established as an SST research and development program at NTU, Amperesand was founded by veterans from ABB, General Electric, Siemens, and Vestas. Although the initiative began seven years ago, the company was founded in 2023.
