HardKrypton has learned that "Matrix" , a provider of full-stack computing power supply solutions for AIDC, has recently completed its Series A financing round, exclusively invested by StarCharge with an amount in the tens of millions of RMB. ZEN Consulting has served as its long-term exclusive financial advisor. Previously, the company received angel round investment from a certain listed company and Pre-A round from Yushan Capital. This round of funds will primarily be used for continued R&D of AI data center power supplies, overseas market expansion, and working capital supplementation.
Matrix Power Technologies Shanghai Co., Ltd. was established in 2020 and specializes in power supply solutions for AI data centers (AIDC) computing power. The company focuses on the development of high-efficiency, high-density power products, with product lines covering traditional 54V DC in-rack power supply to next-generation ±400V/800V HVDC out-of-rack architectures, and even cutting-edge technologies such as solid-state transformers.
With the explosive growth in AI computing power demand, single-rack power is leaping from tens of kilowatts to megawatt levels. The traditional UPS + lead-acid battery power architecture can no longer support the operation of high-density GPU clusters in terms of space, energy efficiency, and dynamic response. The global data center power equipment market is expected to approach 700 billion RMB by 2028. However, domestic and international markets show markedly different paces. The U.S. market leads far ahead in technology application and investment intensity, with an expected market size of $40 billion by 2030; while China's market, despite rapid growth, is constrained by limited access to high-end GPUs and is roughly one-fourth the size of the U.S. market. Currently, Delta holds about 80% of the global share through its acquired communication power technology, followed by Lite-On, but most vendors are either limited to traditional UPS fields or hastily transitioning from industrial power supplies, lacking true genetic understanding of AI data center high-voltage DC architectures.
Addressing this market gap, HardKrypton understands that Matrix has built a complete full-stack AIDC power supply solution from the present to the future. Its existing and under-development product lines fully cover 54V DC in-rack power supplies, including PSUs (Power Supply Units) supporting 5.5kW and 12kW, BBUs (Battery Backup Units) with integrated lithium battery management, CBUs (Capacitor Backup Units) combining supercapacitors for ultra-fast 500-microsecond response, and 240V DC BBS (Battery Backup Systems). For next-generation data centers, the company is accelerating the deployment of ±400V/800V HVDC out-of-rack power supplies. Its HVDC Sidecar module can deliver up to 1.2MW per rack, with system efficiency between 97.3% and 97.7%, and load dynamic response time of 500 microseconds. Looking further ahead, the company has begun preliminary research on solid-state transformer (SST) technology, aiming to directly convert from 10kV medium-voltage grid to 800V DC in the future, eliminating multi-stage conversion losses and providing the ultimate power supply solution for GW-scale AI factories.
In terms of market validation, Matrix has previously verified its technical and delivery capabilities through its communication power business and built a solid customer base in Southeast Asia. To date, the company has secured orders exceeding 50 million RMB. Matrix stated that after this round of financing, it will accelerate its North American market layout. Technological iteration and market speed remain core industry challenges. The company will speed up R&D progress on AI power supplies while advancing the productization of cutting-edge technologies such as 800V HVDC and solid-state transformers, to address the trend of large-scale commercialization of native 800V DC servers starting in 2027, driven by giants like NVIDIA.
According to Jackie, Matrix's Head of Strategy Development and Financing, the company is actively pursuing collaborations with North American internet giants such as Google and Meta on computing power supply business. At the same time, the team is conducting in-depth discussions with leading domestic computing power server manufacturers on power design for ultra-high-computing AIDC servers at the 860kW level.
The "Matrix" team is a rare Huawei-derived power supply backbone in the market, possessing extremely strong power genetics. Founder Li Xiaohua previously served as Vice President of Huawei's Network Energy Department for North America, leading the Huawei team as the leading party in OCP organization's power architecture. Drawing on over 20 years of communication power experience, he designed the world's first distributed OCP data center power supply based on 54V DC and lithium battery architecture for Google and Meta. The technical director is a former senior technical executive from Delta, with 22 years focused on the power industry. Recently, the company introduced former senior executives from Huawei Digital Energy as technical partners. Core technical team members have over 20 years of technical accumulation at Huawei, Delta, Emerson, Eltek, Tyco, and other companies, making it one of the few domestic teams with deep participation in OCP power architecture design.
As the exclusive investor in this round, StarCharge highly recognizes Matrix's technical strength and market foresight in the AIDC computing power supply field. We see that with the explosion of AI computing power demand, traditional power supply architectures can no longer meet industry development needs. Matrix, leveraging its deep accumulation from its Huawei-core team, has built a full-stack power solution covering both current and future needs, demonstrating leading advantages particularly in high-voltage DC. This investment is not only an affirmation of Matrix's power technology roadmap but also an important step for StarCharge in laying out future energy infrastructure. We believe Matrix will occupy an important position in the AIDC data center power market and contribute key strength to the construction of global green and efficient computing power infrastructure.
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