GaN Systems Inc., a developer of gallium nitride power switching semiconductors, has closed a $20-million Series C financing round. The company will use the new money to ramp up sales and marketing efforts and to continue expanding its manufacturing line.
GaN Systems says its Island Technology results in devices that are smaller and more efficient than traditional silicon designs. Its power electronics transistors can be used for a wide range of applications, including solar inverters, electric motors and other EV components.
“By dramatically increasing power electronics efficiency while reducing resource consumption and environmental impacts, GaN Systems’ innovative Island Technology is emerging as the leading solution for the power semiconductor industry, which now faces a major shakeup,” said Andrée-Lise Méthot, Managing Partner at Cycle Capital.
“With a long history of cleantech venture capital investing in China, we are pleased to add GaN Systems to our portfolio of energy efficiency companies. China represents one of the largest and fastest growing markets for power electronics globally,” added Michael Li, Managing Partner at Tsing Capital.
Source: GaN Systems via Green Car Congress