Cambridge GaN Devices (CGD) is a fabless semiconductor company developing a range of energy-efficient GaN-based power devices that provide faster switching speeds, lower energy consumption, and more compact designs than traditional silicon-based solutions.
The Cambridge University spinout says its proprietary monolithic ICeGaN technology - which simplifies the implementation of GaN into existing and progressive designs - delivers efficiency levels exceeding 99 per cent, enabling energy savings of up to 50 per cent in high-power applications including electric vehicles and data centre power supplies.
In a statement, Dr Giorgia Longobardi, CEO and Founder of CGD, said: "This funding round marks a pivotal moment for CGD. It validates our technology and vision to revolutionise the power electronics industry with our efficient GaN solutions and make sustainable power electronics possible.”
The global GaN power device market is projected to grow at a CAGR of 41 per cent, reaching $2bn by 2029. Simultaneously, ICeGaN is being seen as a viable alternative to existing solutions using Silicon Carbide (SiC), combining high energy efficiency, miniaturisation, and monolithically integrated smart functionalities.
This will enable Cambridge GaN Devices to have access to a high-power market estimated to be in excess of $10bn by 2029.
Henryk Dabrowski, SVP of Sales at CGD, said: "I'm thrilled to see this funding helping to deliver on customer deals we've already closed for CGD's latest-generation P2 products. This investment will significantly boost our ability to meet the growing demand for our reliable and easy-to-use GaN solutions."
The investment was led by a strategic investor with participation from British Patient Capital and supported by existing investors Parkwalk, BGF, Cambridge Innovation Capital (CIC), Foresight Group, and IQ Capital.
The funding will enable the company to expand its operations in Cambridge, North America, Taiwan and Europe. This investment will also fuel CGD's growth strategy, focusing on the continued delivery of GaN products to high-power industrial, data centre, and automotive markets.
George Mills, director – Deeptech, Direct & Co-Investments, British Patient Capital, said: “Following years of research, Cambridge GaN Devices have proven the impact of their semiconductor technology. Their GaN devices consume less energy than their silicon-based counterparts, which both reduces costs and has a positive environmental impact. It’s valuable technology that now needs long-term capital to scale.”
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