Series B15 November 2022

Cambridge GaN Devices raises £15.5m in Series B funding led by Parkwalk Advisors and BGF to initiate mass production.

The Series B financing was led by Parkwalk Advisors and BGF to support the commercial scale-up of power transistors.

£15.5MSeries B

Cambridge GaN Devices is a fabless semiconductor company that develops Gallium Nitride transistors and integrated circuits to improve energy efficiency. Spun out from the University of Cambridge, the firm provides power solutions designed to reduce energy losses across various electronic applications.

Cambridge GaN Devices has secured £15.5m in Series B funding to transition its Gallium Nitride technology into mass production. The financing round was led jointly by Parkwalk Advisors and BGF, with additional participation from IQ Capital, CIC, Foresight Williams Technology, and Martlet Capital. The fresh capital will allow the firm to scale manufacturing operations and expand its global supply capabilities for power semiconductor markets.

From the founder

"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."

Giorgia Longobardi

Co-founder & CEO at Cambridge GaN Devices

Investor perspective

"CGD’s technology can play a significant role in the global shift to net zero and it is already making an impact in real world applications. Parkwalk is delighted to be able to continue supporting the company and its impressive and growing team. We look forward to seeing the next phase in CGD’s exciting growth journey."