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Funding will accelerate Cambridge GaN Device’s (CGD) deployment of energy-efficient devices, reshaping the future of power electronics.
CGD has raised $9.5 million in Series A funding. The investment was co-led by IQ Capital, Parkwalk Advisors, and BGF, and joined by Cambridge Enterprise, Foresight Williams, Martlet Capital, Cambridge Angels, and Cambridge Capital Group. CDG will use the funding to expand its product portfolio of energy-efficient power devices and to double the size of its team.
Co-founded by Dr Giorgia Longobardi and Professor Florin Udrea (pictured above), CGD spun out of the renowned Electrical Power and Energy Conversion Group in Cambridge’s Department of Engineering in 2016. The company is developing a revolutionary technology in power devices, a market worth in excess of $30 billion. The company’s core business is designing, developing, and commercialising power transistors and integrated circuits based on the most energy-efficient material available, gallium nitride (GaN).
GaN power devices are significantly higher performing than state-of-the-art silicon-based devices, enabling significant reductions in the size and weight of power converters, while producing energy efficiencies higher than 99%. CGD’s range of GaN transistors are customised for key applications in market segments such as consumer and industrial Switch Mode Power Supply (SMPS), lighting, data centres, and automotive HEV/EV. The higher efficiency of CGD devices, combined with the unique ease-of-use introduced by the company’s proprietary IP, will allow CGD GaN to easily replace silicon in key applications. They will also enable more compact power systems and better use of energy resources.
CDG is based on decades of research in power devices and GaN reliability, carried out with world-leading organisations in the field and through several partnerships and collaborations. The company is currently leading a $10 million European-funded project with 13 industrial and academic partners across Europe, GaNext, developing GaN-based modules for low and high-power applications.
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, CEO and founder, Cambridge GaN Devices
Our close collaboration with CGD has been an incredibly rewarding win-win experience. It enables us to develop an extremely compact solar inverter based on the GaN technology. The team’s enthusiasm is inspiring and contagious, and the shared expertise within our companies has been instrumental in making our combined project a great success with much more future potential.Eric Stodel, CEO, Neways; EMS System Innovator, Lifecycle Partner, GaNext