Cambridge GaN Devices closes $32m Series C funding round

Cambridge GaN Devices (CGD), a leading innovator in gallium nitride (GaN) power devices, has successfully closed a $32million Series C funding round.

The investment was led by a strategic investor with participation from British Patient Capital and supported by existing investors Parkwalk, BGF, Cambridge Innovation Capital (CIC), Foresight Group, and IQ Capital.

Gallium nitride-based devices represent a breakthrough in power electronics, offering faster switching speeds, lower energy consumption, and more compact designs than traditional silicon-based solutions.

George Mills, director – deeptech, direct & co-investments, British Patient Capital, said: “Following years of research, Cambridge GaN Devices have proven the impact of their semiconductor technology. Their GaN devices consume less energy than their silicon-based counterparts, which both reduces costs and has a positive environmental impact.

“It’s valuable technology that now needs long-term capital to scale.”

The funding will enable the company - based at the Jeffreys Building on St John's Innovation Park - to expand its operations in Cambridge, North America, Taiwan and Europe, and deliver CGD’s unique value proposition to its growing customer base.

This significant investment will fuel CGD's growth strategy, focusing on the continued delivery of highly efficient GaN products to high-power industrial, data centre, and automotive markets.

Dr Giorgia Longobardi, CEO and founder of CGD, said: “This funding round marks a pivotal moment for CGD. It validates our technology and vision to revolutionise the power electronics industry with our efficient GaN solutions and make sustainable power electronics possible.

“We’re now poised to accelerate our growth and make a significant impact in reducing energy consumption across multiple sectors.

“We look forward to collaborating with our strategic investor to penetrate the automotive market.”