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Cambridge GaN Devices secures $32m to drive global growth

The university spinout has raised a Series C round, to expand its operations in Cambridge, North America, Taiwan and Europe.

18 February 2025

Cambridge GaN Devices (CGD), a leading innovator in gallium nitride (GaN) power devices, has successfully closed a $32 million Series C funding round. The investment was led by a strategic investor, with participation from British Patient Capital, and supported by existing investors Parkwalk, BGF, Cambridge Innovation Capital (CIC), Foresight Group, and IQ Capital.

Transforming power electronics with GaN

Gallium nitride-based devices represent a breakthrough in power electronics, offering faster switching speeds, lower energy consumption, and more compact designs than traditional silicon-based solutions.

CGD’s proprietary monolithic ICeGaN® technology, which simplifies the implementation of GaN into existing and progressive designs, delivers efficiency levels exceeding 99%. This enables energy savings of up to 50% in a wide range of high-power applications, including electric vehicles and data centre power supplies.

These innovations have the potential to save millions of tons of CO2 emissions annually, accelerating the global transition to more sustainable energy systems, due to the inherent ease of use that ICeGaN® technology provides to its customers.

Dr. Giorgia Longobardi, CEO and Founder of CGD, said: “This funding round marks a pivotal moment for CGD. It validates our technology and vision to revolutionise the power electronics industry with our efficient GaN solutions and make sustainable power electronics possible. We’re now poised to accelerate our growth and make a significant impact in reducing energy consumption across multiple sectors. We look forward to collaborating with our strategic investor to penetrate the automotive market”.

Market opportunity and proven success

The global GaN power device market is projected to grow at a remarkable CAGR of 41%, reaching $2 billion by 2029. At the same time, ICeGaN® is being seen as a viable alternative to existing solutions using Silicon Carbide (SiC), combining high energy efficiency, miniaturization, and monolithically integrated smart functionalities.

This will enable CGD to have access to a high-power market, estimated to be in excess of $10 billion by 2029. With its cutting-edge technology and market leadership position, CGD is well positioned to capitalise on this rapid market expansion. Having successfully secured industry-leading customers in their pipeline, CGD has consistently demonstrated its ability to deliver reliable and impactful solutions, enabling innovation in the sector.

Henryk Dabrowski, SVP of Sales at CGD, commented: “I’m thrilled to see this funding helping to deliver on customer deals we’ve already closed for CGD’s latest-generation P2 products. This investment will significantly boost our ability to meet the growing demand for our reliable and easy-to-use GaN solutions.”

Global expansion and vision for the future

With a global team of experts, decades of research, and a commitment to pushing the boundaries of GaN technology, CGD continues to deliver solutions that enhance everyday electronics. As the world advances toward electrification and sustainability, CGD’s leadership in GaN technology offers a pathway to reduce energy consumption, lower costs, and mitigate environmental impact. By enabling efficient, compact, and high-performance power devices, CGD is setting a new standard for sustainable power electronics.

This funding will enable the company to expand its operations in Cambridge, North America, Taiwan and Europe, and deliver CGD’s unique value proposition to its growing customer base. The significant investment will fuel CGD’s growth strategy, focusing on the continued delivery of highly efficient GaN products to high-power industrial, data centre, and automotive markets.

Dennis Atkinson, Co-Head of Early Stage at BGF, said: “This latest investment will enable CGD to scale the production of its game-changing GaN transistors, which offer superior performance, smaller size, and greater efficiency, compared to traditional silicon chips. By powering applications like EVs and industrial systems, CGD is set to play a key role in the global sustainability movement, and we’re thrilled to help accelerate its journey.”

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