Cambridge GaN Devices Secures $32 Million Series C Funding

Deal News | Feb 19, 2025 | Foresight Group

Cambridge GaN Devices (CGD), a leader in gallium nitride (GaN) power device technology, announced the successful closure of a $32 million Series C funding round, garnering support from existing investors including Foresight Group, BGF, and Cambridge Innovation Capital among others. The funding will propel CGD's growth strategy, enabling the expansion of operations in the UK, Taiwan, Europe, and North America to meet the burgeoning demand for efficient GaN products across industrial, data center, and automotive markets. Founded in 2016 by Dr. Giorgia Longobardi and Prof. Florin Udrea, CGD emerged as a University of Cambridge spin-out and remains at the forefront of energy-efficient technology. The company's GaN chips present a competitive alternative to silicon, promising significant energy savings and reduced CO2 emissions. With the global GaN power device market expected to soar, this investment proves critical for CGD to extend its industry influence while embracing sustainable practices. Dr. Longobardi emphasized the profound impact of this funding towards achieving a low-carbon future, echoed by Foresight Group's commitment to green innovations. Key advisers Mishcon de Raya and Ashfords facilitated this strategic move.

Sectors

  • Semiconductors
  • Renewable Energy

Geography

  • United Kingdom – Cambridge GaN Devices is based in the UK, and part of the funding will expand operations within the country.
  • Taiwan – The expansion plans for Cambridge GaN Devices include operations in Taiwan.
  • Europe – The company has planned growth and expansion strategies across Europe.
  • North America – CGD intends to expand its customer base into North America as part of its growth strategy.

Industry

  • Semiconductors – The article focuses on Cambridge GaN Devices, which develops GaN-based power devices, a sector closely related to semiconductor technology.
  • Renewable Energy – CGD’s GaN technology aims to create energy-saving and efficiency improvements, directly impacting the renewable energy sector by reducing consumption and emissions.

Financials

  • 32,000,000 – Total amount raised in the Series C funding round by Cambridge GaN Devices.
  • 1,100,000 – Investment amount by Foresight Group in Cambridge GaN Devices' Series C funding.

Participants

NameRoleTypeDescription
Cambridge GaN DevicesTargetCompanyA company focusing on developing GaN-based power devices to enhance energy efficiency.
Foresight GroupPE FirmCompanyA private equity firm investing in fast-growing companies focusing on deep tech and energy-efficient technologies.
BGFInvestorCompanyAn existing investor participating in the Series C funding.
Cambridge Innovation CapitalInvestorCompanyA venture capital investor involved in the new funding round.
ParkwalkInvestorCompanyAn existing investor contributing to the funding efforts for CGD.
IQ CapitalInvestorCompanyA venture capital firm participating in the Series C funding.
British Patient CapitalInvestorCompanyA participant in CGD's funding round, supporting the growth strategy.
Mishcon de ReyaLegal AdvisorCompanyLegal advisors to Cambridge GaN Devices during the funding process.
AshfordsLegal AdvisorCompanyLegal advisors to Foresight Group during the funding round.
Dr. Giorgia LongobardiCEO and FounderPersonFounder and CEO of Cambridge GaN Devices, leading the company’s growth.
Prof. Florin UdreaCo-FounderPersonCo-Founder of Cambridge GaN Devices, involved in its technological advancement.