Drew Baglino, a former Tesla executive, is charting a new path with his startup Heron Power, which aims to revolutionize a long-overlooked component of the electrical grid — the transformer. According to Axios, the company is currently raising between $30 million and $50 million in its Series A funding round, led by Capricorn Investment Group.
Baglino, who joined Tesla in 2006 and rose to become the Senior Vice President of Powertrain and Energy, played a key role in developing the original Model S powertrain and Tesla’s battery energy storage systems. He left the company in April 2024 during a major layoff that affected 10% of Tesla’s workforce.
With Heron Power, Baglino is focusing on solid-state transformers — an advanced, compact alternative to traditional transformers that have seen minimal innovation for over a century. Unlike their conventional counterparts, solid-state transformers can actively regulate voltage fluctuations, shift between power sources rapidly, and enhance overall grid reliability.
The startup joins a growing field of transformer-focused innovation. Singapore-based Amperesand, also led by former Tesla talent, is similarly raising its Series A after closing a $12.5 million seed round in 2024.
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