GaN Systems Inc., an Ottawa, Canada-based developer of gallium nitride power switching semiconductors, raised USD$20M in venture capital financing.
The round was led by Cycle Capital Management with participation from BDC Capital and Beijing-based Tsing Capital, as well as existing investors Chrysalix Energy Venture Capital and RockPort Capital.
The company intends to use the funds to ramp up sales and marketing support for its international customer base and to continue manufacturing line expansion.
Led by Jim Witham, CEO, GaN Systems is a fabless semiconductor company that has developed a range of gallium nitride power switching transistors for a wide variety of markets. The power electronics transistors can be used for a wide range of applications, from data centers and solar inverters, to thinner TVs, motors, longer range electric vehicles (EVs), and a multitude of other consumer, enterprise, industrial and transportation applications.
FinSMEs
07/05/2015