Cambridge GaN Devices secures $19m in latest funding round

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Cambridge GaN Devices (CGD), the fabless semiconductor company that was spun out of the power device group at the Engineering Department of the University of Cambridge in 2016, has raised $19m in Series B funding.

The investment, led by Parkwalk Advisors and BGF, will enable CGD to begin mass production of its range of GaN transistors for power applications.

Commenting Dr Giorgia Longobardi, Co-Founder and CEO, said, “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%.

“To take just one application example, if all data centres were to adopt GaN, this would save 12.4TWh of electricity per year, or 9 million tons of CO2 - the equivalent of taking 1.9 million internal combustion engines vehicles off the road for a year. Our ICeGaN GaN transistors - which are now in the hands of customers at scale – are amongst the most efficient devices of their type on the market. Our devices are also the easiest for designers to use.”

CGD has developed new intellectual property and is bringing to market its ICeGaN Gallium Nitride transistor family which is intended to address a $50bn global power semiconductor market. 

According to the company it is well positioned to disrupt multiple industries such as consumer and industrial power supplies, lighting, data centres and automotive HEV/EV. CGD’s easy-to-use technology provides efficient, sustainable, and more cost-effective power solutions for electronic equipment.

CGD is currently leading a $10m 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).

CGD is also focused on key partnerships with their customers focused at the datacom and automotive solutions.

The company has completed its brand development, moved to new offices, and now employs over 40 staff worldwide, with more planned to support the up scaling.

“This latest round of investment is a great recognition of our success to date, with new and existing investors confirming the strength of our technology. Since 2016, CGD has been on a mission to make greener electronics possible and to shape the future of power electronics by delivering the most efficient and easy-to-use transistors. We are thrilled to be in a position to move to mass production and global supply, delivering devices where our unique technology can have the biggest impact,” said Longobardi.