Cambridge GaN Devices (CGD) has raised USD9.5 million in Series A funding. The investment was co-led by IQ Capital, Parkwalk Advisors and BGF, and includes investment from Foresight Williams, Cambridge Enterprise, Martlet Capital, Cambridge Angels and Cambridge Capital Group
The funding will be used by CGD to expand its product portfolio of energy-efficient power devices and to double the size of its team.
CGD was spun out of the renowned power device group at the Engineering Department of the University of Cambridge in 2016 to exploit a revolutionary technology in power devices, a market worth in excess of $30 billion.The company’s core business is to design, develop and commercialise power transistors and integrated circuits based on the most energy-efficient material available, Gallium Nitride (GaN).
Source: Private Equity Wire
