We are pleased to announce our latest investment in Cambridge GaN Devices (CGD), a University of Cambridge spinout developing energy-efficient semiconductors using gallium nitride (GaN), reshaping the future of power electronics. CGD’s technology will help electric vehicles and data centres be more energy efficient, presenting major opportunities in the global power semiconductor industry.
Cambridge, UK, 18 February 2025 – Cambridge GaN Devices (CGD), a leading innovator in gallium nitride (GaN) power devices, has successfully closed a $32 million Series C funding round. Parkwalk invested alongside British Patient Capital, BGF, Cambridge Innovation Capital (CIC), Foresight Group and IQ Capital.
Transforming Power Electronics with GaN
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. CGD’s proprietary monolithic ICeGaN® technology, which simplifies the implementation of GaN into existing and progressive designs, delivers efficiency levels exceeding 99%, enabling energy savings of up to 50% in a wide range of high-power applications including electric vehicles and data centre power supplies. These innovations have the potential to save millions of tons of CO2 emissions annually, accelerating the global transition to more sustainable energy systems due to the inherent ease-of-use that ICeGaN® technology provides to its customers.
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 revolutionize 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”.
Market Opportunity and Proven Success
The global GaN power device market is projected to grow at a remarkable CAGR of 41%, reaching $2 billion by 20291. At the same time, ICeGaN® is being seen as a viable alternative to existing solutions using Silicon Carbide (SiC), combining high energy-efficiency, miniaturization, and monolithically integrated smart functionalities.This will enable Cambridge GaN Devices to have access to a high power market estimated to be in excess of $10 billion by 20291. With its cutting-edge technology and market leadership position, CGD is well positioned to capitalize on this rapid market expansion.Having successfully secured industry-leading customers in their pipeline, CGD has consistently demonstrated its ability to deliver reliable and impactful solutions, enabling innovation in the sector.
Henryk Dabrowski, SVP of Sales at CGD, said: “I’m thrilled to see this funding helping to deliver on customer deals we’ve already closed for CGD’s latest-generation P2 products. This investment will significantly boost our ability to meet the growing demand for our reliable and easy-to-use GaN solutions.”
Global Expansion and Vision for the Future
With a global team of experts, decades of research, and a commitment to pushing the boundaries of GaN technology, CGD continues to deliver solutions that enhance everyday electronics. As the world advances toward electrification and sustainability, CGD’s leadership in GaN technology offers a pathway to reduce energy consumption, lower costs, and mitigate environmental impact. By enabling efficient, compact, and high-performance power devices, CGD is setting a new standard for sustainable power electronics.
The funding will enable the company 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.