GaN Systems raises extra USD20m to fund growth plans
Cycle Capital Management led the latest round of financing and was joined by BDC Capital and Beijing-based Tsing Capital, as well as existing investors Chrysalix Energy Venture Capital and RockPort Capital. As GaN Systems’ customers launch multiple consumer and enterprise products designed with its gallium nitride (GaN) transistors, this financing will enable the company to ramp up sales and marketing support for the company’s growing international customer base and to continue manufacturing line expansion.
GaN-based transistors are increasingly positioned to disrupt the $15 billion power transistor market, and GaN Systems. GaN Systems’ innovative Island Technology results in devices that are smaller and more efficient than traditional silicon design approaches. The company’s products enable previously unseen switching efficiencies that lead to more sustainable energy use and increased power efficiency, while reducing costs and environmental impacts of some of the world’s fastest growing industries.
GaN Systems’ power electronics transistors can be used for a wide range of applications, from more efficient data centers and solar inverters, to thinner TVs, smaller more powerful motors, longer range electric vehicles (EVs), and a multitude of other consumer, enterprise, industrial and transportation applications.
“We are delighted to welcome a diverse group of investors who collectively will provide critical financing, strategic advice, and additional entry points into growth markets while we establish GaN Systems as a recognised leader in the power semiconductor market,” said Jim Witham, CEO of GaN Systems. “As I visit customers around the world, they are showing me how our technology is enabling more efficient products that are one quarter the size and one quarter the weight, as well as entirely new products that could only be achieved with our super-high speed switches.”
Related articles and links:
www.gansystems.com
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