Scoop: DG Matrix to raise $250M for solid-state transformers

DG Matrix, an advanced electrical transformer maker, plans to raise about $250 million in Series B funding early next year to expand production, Axios Pro has learned.

Why it matters: It's racing rivals to scale manufacturing capacity and secure market share before legacy electrical-equipment manufacturers enter the space.

• "It's a land grab right now," a source told Axios Pro earlier this year.