On May 29, 2025, Heron Power, a next-generation grid technology company founded by former Tesla executive Drew Baglino, announced that it had raised $38 million in a Series A funding round. The round was led by Capricorn Investment Group, with participation from Breakthrough Energy Ventures, Energy Impact Partners, Gigascale Capital, Powerhouse Ventures, Valor Equity Partners, Tesla co-founder JB Straubel, and former Tesla Chief Financial Officer Zach Kirkhorn. Wilson Sonsini Goodrich & Rosati advised Heron Power on the transaction.

Heron Power is building advanced industrial power electronics designed specifically for the evolving needs of the 21st-century electric grid. Its solutions aim to enable faster, more reliable, and more scalable grid growth by combining solid-state technology with modern software integration.

The funding will support team expansion and accelerate the development of the Heron Link—a solid-state transformer designed to replace aging legacy transformers and power converters. The company anticipates initial deployments in early 2027 and is currently collaborating with leading energy and data center developers.

The Wilson Sonsini team advising Heron Power included Scott Zimmermann, Melissa Wright, and Max Learner.

For more information, please see Heron Power’s news release.