Finwave gets bridging capital as it ramps revenue
Finwave Semiconductor Inc. has raised US$8.2 million in a bridge round of venture capital investment to support the development of GaN-on-Si technology for 5G/6G networks.
The round was led by Fine Structure Ventures, Engine Ventures, and Safar Partners with participation by Finwave’s foundry partner, GlobalFoundries.
This brings the total raised by the company to about US$33 million.
Pierre-Yves Lesaicherre, CEO of Finwave has previously said the company was ramping up product releases with the expectation of generating revenues from 2024 onward (see Microwave Journal). However, the description of the latest round as “bridge” suggests that Finwave is not yet profitable and is still investing in R&D and market entry.
Finwave said it will use the latest funding to develop GaN-on-Si for high-power RF switches, for PAs for communications infrastructure and for mobile devices. The company said it expects an expansion of its product portfolio and acceleration of revenue generation.
Finwave was founded in 2012 by researchers at the Massachusetts Institute of Technology (MIT) under the name Cambridge Electronics Inc. The company rebranded as Finwave Semiconductor in 2022 as it proceeded to commercialization of its fin-structured GaN technology.
The company now produces 3D GaN transistors, enhancement-mode GaN PAs and high-power broadband RF switches using the silicon wafers to capitalize on large wafer handling in wafer fabs.
“This funding round validates the years of engineering and innovation behind our proprietary GaN-on-Si technology and provides resources we need to move from the development phase to delivering differentiated, high-performance products. More than just funding, this is a clear endorsement of our direction – and a strong signal that the industry believes in the path we’re on,” said Lesaicherre, in a statement.
Jennifer Uhrig, senior managing director at Fine Structure Ventures, said the signing of GlobalFoundries as manufacturer and of RFMW as distributor is giving customers confidence in Finwave’s ability to bring high-performance, reliable products to market.
Related links and articles:
News articles:
Finwave announces foundry for RF GaN-on-Si
Finwave shows 3D GaN on silicon RF for 6G
GaN FinFET funded, aims for 5G applications
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