Verse Raises $54M From Nvidia to Speed AI Data Center Buildouts

SAN FRANCISCO: Verse, a startup focused on on-site battery storage for AI data centers, has raised $54 million in a Series B funding round. The round was led by Bessemer Venture Partners, with Nvidia joining as a notable backer. GV and Norrsken VC also participated in the round, which was announced on June 19.

Verse’s technology helps AI data centers bypass lengthy grid interconnection queues by using on-site battery storage instead of waiting for traditional grid connections. This approach allows new data center facilities to come online up to three years faster than conventional builds, a significant advantage at a time when demand for AI infrastructure is growing rapidly.

AI data centers face a growing crisis around electrical grid connection delays. Major hubs now wait five to seven years for grid interconnection approval. Roughly $500 billion in annual revenue sits stuck in interconnection queues globally.

Verse builds Dispatch Intelligence, a software product that manages on-site battery storage in real time. The system lowers a facility’s grid draw during peak demand periods automatically. Utilities see a flexible, grid-responsive load that expedites interconnection approvals.

“The race to AI is now a race to power, and developers are losing time they don’t have,” says Verse CEO Seyed Madaeni.

The model preserves full compute performance throughout the entire orchestration process. Most existing approaches require operators to throttle workloads during peak grid times. AI training and inference cannot tolerate that kind of performance compromise.

Nvidia adds Verse’s Dispatch Intelligence directly into its DSX AI Factory reference design. The blueprint guides developers building large-scale AI data centers globally. The integration positions Verse software inside virtually every Nvidia-aligned data center project.

CEO Seyed Madaeni previously served as chief digital officer at Fluence energy storage. He helped lead Fluence through a $5 billion IPO and grew its software portfolio significantly. Co-founder Matt Penfold previously served as chief commercial officer at Advanced Microgrid Solutions.

Verse partners with Calibrant Energy to provide the on-site battery hardware and microgrid solutions. Macquarie Asset Management backs Calibrant as the world’s largest infrastructure fund manager. Verse plans to bring more than 100 sites online over the next year.