Cambridge GaN Devices Secures £25m Series C Investment

Deal News | Feb 18, 2025 | UK Tech Funding

Cambridge GaN Devices Secures £25m Series C Investment

Cambridge GaN Devices, a semiconductor company and university spinout, has successfully raised £25 million in a Series C funding round. This injection of funds is aimed at expanding their operations, particularly in data centre and automotive sectors, where they see a growing demand for their efficient gallium nitride (GaN) power devices. The global market for this technology is expected to grow significantly, reaching $5.2 billion by 2032, driven largely by the surge in AI applications. The round was led by British Patient Capital and included notable investments from Cambridge Innovation Capital, IQ Capital, Parkwalk, Foresight Group and Business Growth Fund (BGF). This milestone further validates Cambridge GaN Devices' objective to innovate the power electronics industry, and with Cambridge University remaining a significant shareholder, they remain at the forefront of semiconductor innovation. The investment will help the company drive growth and foster partnerships within the automotive market, significantly impacting energy efficiency across various sectors.

Sectors

  • Semiconductors
  • Venture Capital & Private Equity
  • Automotive

Geography

  • United Kingdom – Cambridge GaN Devices is based in the UK, and the investment round included British participants like British Patient Capital, underlining the geographic focus on UK tech innovation.

Industry

  • Semiconductors – Cambridge GaN Devices operates in the semiconductor industry, focusing on developing advanced gallium nitride power devices which are more efficient than traditional silicon counterparts.
  • Venture Capital & Private Equity – The article discusses a Series C funding round led by private equity participants like British Patient Capital, highlighting the role of venture capital in the growth of tech startups.
  • Automotive – The firm plans to enter and impact the automotive market with its energy-efficient technology, making this industry relevant.

Financials

  • £25m – The total amount raised in the Series C funding round for Cambridge GaN Devices.
  • $5.2bn – The expected global market size for Cambridge GaN Devices' technology by 2032.

Participants

NameRoleTypeDescription
Cambridge GaN DevicesTarget CompanyCompanyA semiconductor company focused on developing GaN power devices.
British Patient CapitalInvestorCompanyA commercial subsidiary of the UK government-owned British Business Bank, involved in the investment round.
Cambridge Innovation CapitalInvestorCompanyAn investor part of the Series C funding round.
IQ CapitalInvestorCompanyAn investor part of the Series C funding round.
ParkwalkInvestorCompanyAn investor part of the Series C funding round.
Foresight GroupInvestorCompanyAn investor part of the Series C funding round.
Business Growth Fund (BGF)InvestorCompanyAn investor part of the Series C funding round.
Cambridge UniversityShareholderInstitutionUniversity that remains a significant shareholder in Cambridge GaN Devices.
Dr. Giorgia LongobardiFounder and CEOPersonFounder and CEO of Cambridge GaN Devices.
Christine HockleyManaging DirectorPersonManaging Director of Funds at British Patient Capital.