Transphorm Inc., a Goleta, CA-based early stage semiconductor company, received a $70 million investment.
The round was led by KKR, whose investment follows initial rounds of funding led by funds affiliated with Kleiner Perkins Caufield and Byers, Foundation Capital, Google Ventures, Soros Quantum Strategic Partners, INCJ, Fujitsu. As part of the transaction, KKR’s David Kerko, Brittany Bagley and Eiji Yatagawa will join Transphorm’s Board of Directors along with semiconductor industry veterans Mario Rivas and Michael White.
The company intends to use the funds for growth, product innovation and expansion.
Led by Dr. Umesh Mishra, Chairman, Transphorm provided power conversion devices and modules that reduce energy loss and simplify the design and manufacturing of motor drives, power supplies and inverters for solar panels and electric vehicles.