Cambridge GaN Devices secured $32 million in Series C funding, led by strategic investors including Foresight Group, to enhance its innovative gallium nitride power solutions and expand operations across multiple markets.

Target Information

Cambridge GaN Devices (CGD) is a pioneering company specializing in gallium nitride (GaN) based power devices. Established in 2016 as a spin-out from the University of Cambridge by Dr. Giorgia Longobardi and Prof. Florin Udrea, CGD is dedicated to commercializing advanced GaN technology that enhances energy efficiency in power electronics. CGD's innovative GaN chips serve as effective replacements for traditional silicon devices, offering improved performance that can lead to up to 10% energy savings and significant reductions in CO2 emissions, particularly in high-demand areas such as data centers and electric vehicle chargers.

The company has recently closed a Series C funding round, raising $32 million to bolster its expansion efforts. This funding is a testament to CGD's growth potential, especially as demand for efficient power solutions continues to rise across various sectors.

Industry Overview in the UK

The global market for GaN power devices is anticipated to grow significantly, with projections estimating it will reach $5.15 billion by 2032, reflecting a compound annual growth rate (CA