Cambridge GaN Devices Secures $19m to Scale up for $50bn Power Semiconductor Device Market
Cambridge GaN Devices (CGD), the fabless semiconductor company that was spun out of the renowned power device group at the Engineering Department of the University of Cambridge in 2016, has raised $19m in Series B funding. The investment was led by Parkwalk Advisors and BGF, with participation from IQ Capital, CIC, Foresight Williams Technology and Martlet Capital. The investment will enable CGD to begin mass production of its range of GaN transistors for power applications.
CGD has already made remarkable progress, developing new intellectual property and bringing to market its new ICeGaN™ Gallium Nitride transistor family which addresses a $50bn global power semiconductor market. The company is uniquely positioned to disrupt multiple industries such as consumer and industrial power supplies, lighting, data centres and automotive HEV/EV. CGD's innovative and easy-to-use technology provides efficient, sustainable, and more cost-effective power solutions for electronic equipment.
As a result, CGD has gained significant global traction and attention at international conferences and in respected press. CGD is currently leading a $10m European-funded project developing GaN-based modules for low and high-power applications (GaNext); is participating in a UK supply chain initiative for PCB-embedded power systems with GaN devices (P3EP) and recently launched a project to develop highly reliable GaN power transistors and ICs to cut data centre emissions (ICeData). CGD is also focused on key partnerships with their customers focused at the datacom and automotive solutions. The company has completed its brand development, moved to new offices, and now employs over 40 staff worldwide, with more planned to support the up scaling.
About Cambridge GaN Devices
About Parkwalk Advisors
About IQ Capital
IQ Capital's 45+ portfolio companies are visionaries and dominate their respective markets on a global scale. Our initial investments at Seed and Series A range from £0.5m to £10m, with capacity for follow-on investment up to £30m through our Growth Fund.
About Foresight Williams
Cambridge Innovation Capital Manager Limited (FRN:918898) is authorised and regulated by the Financial Conduct Authority. For more information, please visit http://www.cic.vc or follow us on Twitter at @CIC_vc and LinkedIn
About Martlet Capital
* Sources: Eaton, Statkraft - Data Centers and Decarbonization - Oct. 21
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