Martlet Capital is an early-stage investor based in Cambridge, providing patient capital to deep technology and life science startups.
MP Healthcare led the pre-Series A financing to help fund the expansion of the company drug discovery pipeline in oncology and neurology.
"At PharmEnable, we believe that everyone deserves safe and effective treatments, and we are committed to applying the principles chemical novelty, diversity and 3-dimensionality to design powerful new small molecule drugs."
The Series B financing was led by Parkwalk Advisors and BGF to support the commercial scale-up of power transistors.
"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."
The Series A round was led by 24Haymarket with backing from Octopus Ventures, LocalGlobe, Angel CoFund, and Martlet Capital.
The funding round was led by Speedinvest to support the development of novel micro-LED production methods.
"It’s an entirely new engineered GaN material platform to build semiconductor devices on. It offers performance improvements that are suitable for mass production, scalable in wafer size – and crucial for the next generation of microdisplay devices such as AR glasses."
The financing round was co-led by IQ Capital, Parkwalk Advisors and BGF to scale the company's product range and double headcount.
"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."
