19 June 2012

GaN Systems closes Series B funding after development milestones achieved ahead of schedule

GaN Systems Inc of Ottawa, Ontario, Canada, which is a fabless provider of gallium nitride (GaN)-based power switching semiconductors for power conversion and control applications, has closed its Series B financing round with existing investors Chrysalix Energy Venture Capital and RockPort Capital. This follows a Series A round of funding just last November and signals the achievement of the firm’s initial development milestones months ahead of schedule.

“Since the company’s Series A round, the market momentum for gallium nitride as a credible alternative to silicon for power devices has grown significantly, with devices becoming mainstream faster than we anticipated,” says Chrysalix’s managing director Mike Sherman. “This means commercial reality is closer and more tangible than expected,” he adds.

“This significant financing round is a stamp of approval from our existing investors,” says CEO Girvan Patterson. “It enables us now to accelerate commercialization of the GaN power devices that we have developed on our breakthrough island technology platform,” he adds.

GaN Systems’ transistors are targeted at the next generation of highly efficient power conversion applications, the fastest-growing segment of the $14bn-a-year power devices market. This includes high-growth applications such as solar inverters, server farms, and hybrid vehicles. Beyond the inherent advantages of GaN in efficiency, speed and temperature, GaN Systems says that its Cool Switching technology enables extremely compact, low-cost designs, and provides a seamless transition to foundry-independent GaN-on-silicon fabrication for flexible access to high-volume production resources.

“With these advantages, GaN Systems is uniquely positioned to drive broad adoption of gallium nitride as a superior alternative to conventional silicon power devices,” comments RockPort Capital partner Daniel Hullah.

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GaN Systems closes first-round funding

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