Cambridge GaN Devices (CGD), an innovator in gallium nitride (GaN) power devices, has closed a $32 million Series C funding round. A strategic investor led the investment, with participation from British Patient Capital and support from existing investors, including Parkwalk, BGF, Cambridge Innovation Capital (CIC), Foresight Group, and IQ Capital.
GaN-based power devices transform power electronics by delivering faster switching speeds, lower energy consumption, and more compact designs than traditional silicon-based solutions.
CGD’s proprietary ICeGaN technology simplifies the integration of GaN into existing systems, achieving efficiency levels exceeding 99%. This results in up to 50% energy savings across high-power applications such as electric vehicles, supporting the transition to sustainable energy solutions while reducing CO₂ emissions.
The global GaN power device market is projected to reach $2 billion by 2029, growing at a 41% CAGR. ICeGaN is emerging as a high-efficiency alternative to Silicon Carbide (SiC), offering miniaturization and integrated smart functionalities. These advantages position CGD to access a high-power market exceeding $10 billion while serving automotive and industrial applications.
The funding will support CGD’s expansion across Cambridge, North America, Taiwan, and Europe, strengthening its ability to meet the rising demand for GaN power solutions. The company focuses on delivering efficient, compact, and high-performance GaN-based products for industrial, data center, and automotive markets, contributing to global electrification and energy efficiency efforts.
Filed Under: Technology News