Cambridge GaN Devices secures funds to scale up
The fabless semiconductor company has raised USD 19m in Series B funding. The investment will enable Cambridge GaN Devices (CGD) to begin mass production of its range of GaN transistors for power applications.
The investment was led by Parkwalk Advisors and BGF, with participation from IQ Capital, CIC, Foresight Williams Technology and Martlet Capital.
“CGD is poised to become one of the leaders in enabling a sustainable world. As we move to a net-zero carbon society with rapidly increasing levels of electrification, we need clean, renewable sources of electricity and more efficient conversion methods. GaN provides the optimum conversion solution, reducing power losses by more than 50% and increasing energy conversion efficiency to above 99%,” says Dr, Giorgia Longobardi, Co-Founder & CEO, CGD in a press release.
CGD has already made progress, developing new intellectual property and bringing to market its new ICeGaN Gallium Nitride transistor family which addresses a USD 50 billion global power semiconductor market. The company says it is positioned to disrupt multiple industries – such as consumer and industrial power supplies, lighting, data centres and automotive HEV/EV.
CGD is currently leading a USD 10 million 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). The company has completed its brand development, moved to new offices, and now employs over 40 staff worldwide, with more planned to support the upscaling.