GaN-on-SiC epitaxial wafer maker SweGaN AB (Linköping, Sweden) has replaced its CEO and raised 125 million Swedish Krone (about €12 million) in a Series A investment round co-led by Intertech Ventures, Mount Wilson Ventures and Atlantic Bridge.
Sweden’s STOAF and fabless chip company MediaTek Inc. also participated in the round.
SweGaN was founded in 2014 and makes gallium-nitride on silicon-carbide (GaN-on-SiC) epitaxial wafers for a range of devices used in telecom, satellite, defense, and power electronics.
In conjunction with the investment, has announced the appointment of Jr-Tai “Ted” Chen as CEO. Chen co-founded SweGaN and invented the company’s proprietary QuanFINE buffer-free technology as its CTO. The company’s previous CEO was Jonas Nilsson in an interim role. He continues with the company as chairman of the board.
SweGaN stated it has more than 30 paying customers and is in qualification for a number of applications in Europe, the US and Asia.
The company said the money would be used to increase production capacity to meet demand from suppliers of 5G base stations, defense radars, low-orbit satellite communications and on-board chargers in electric vehicles. Additionally, the financing funds empower the company’s plans to expand its executive team and to boost engineering, sales, and production staff.
Related links and articles: