Cambridge GaN Devices raises $9.5m in Series A funding led by IQ Capital, Parkwalk Advisors and BGF to expand its product line and team
The financing round was co-led by IQ Capital, Parkwalk Advisors and BGF to scale the company's product range and double headcount.
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 $9.5m in a Series A financing round co-led by IQ Capital, Parkwalk Advisors, and BGF. The capital injection also drew participation from Foresight Williams, Cambridge Enterprise, Martlet Capital, Cambridge Angels, and Cambridge Capital Group.
The business will direct the proceeds towards expanding its line of power products and growing its internal team. This follows years of academic development focused on power device reliability originating from the University of Cambridge.
From the founder
"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 grown significantly and we are thrilled to be in a position to deliver several products to market, following decades of industry-leading research in reliability of power devices. This investment will allow us to supplement our experienced team with additional experts and expand our markets globally, creating more sustainable electronics worldwide."
Giorgia Longobardi
Co-founder & CEO at Cambridge GaN Devices
Investor perspective
"We are proud to support the CGD team as they build on their core technology, from a strong base of academic research and IP, to create the world’s best GaN power devices for a wide range of applications. This highly experienced team has incredible potential to disrupt the electronics industry with new devices that will unlock commercial and environmental gains for suppliers and customers."
Ed Stacey
managing partner, IQ Capital
Use of funds
- 01Continue product development
- 02Grow the team
Investors
Ed Stacey
IQ Capital
John Pearson
Parkwalk Advisors
Tim Rea
BGF
Foresight Williams
Cambridge Enterprise
Martlet Capital
Cambridge Angels
Cambridge Capital Group
Categories
About the company
Cambridge GaN Devices
Cambridge GaN Devices designs energy-efficient Gallium Nitride transistors for power applications.