Cambridge GaN Devices (CGD), a semiconductor company that spun out of the University of Cambridge’s engineering department, has raised $19m (£15.9m) in a Series B funding round.
Founded in 2016, CGD is a fabless semiconductor company that designs transistors, which the company claims can make electronics greener by improving energy conversion efficiency.
“As we move to a net-zero carbon society with rapidly increasing levels of electrification, we need clean, renewable sources of electricity and more efficient conversion methods,” said Cambridge GaN co-founder and CEO, Dr Giorgia Longobardi.
CGD specialises in gallium nitride (GaN) transistors, which are an alternative to silicon with a higher capacity to sustain power switching frequencies and elevated temperatures.
“GaN provides the optimum conversion solution, reducing power losses by more than 50% and increasing energy conversion efficiency to above 99%,” Longobardi said.
Longobardi added that “if all data centres were to adopt GaN”, it would save globally 12.4TWh of electricity per year” or nine million tons of CO2.
The latest funding round for the company was led by Parkwalk Advisors and BGF. IQ Capital, CIC, Foresight Williams Technology, and Market Capital also participated.
“CGD’s technology can play a significant role in the global shift to net zero and it is already making an impact in real-world applications,” said John Pearson, an investor at Parkwalk.
“Parkwalk is delighted to be able to continue supporting the company and its impressive and growing team. We look forward to seeing the next phase in CGD’s exciting growth journey.”
CGD previously secured £6.8m in funding in February 2021.