Cambridge GaN Devices secures $32M to seize global opportunities in burgeoning power semiconductor industry

Acuity is pleased to announce that it was the exclusive advisor to Cambridge GaN Devices (CGD) on their successful $32m Series C fundraising round. The investment was led by a strategic investor with participation from British Patient Capital and supported by existing investors Parkwalk, BGF, Cambridge Innovation Capital (CIC), Foresight Group, and IQ Capital.

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.”

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.

Pete Hutton, Chairman of Cambridge GaN Devices said:

“Navigating the complexities of later-stage fundraising for a deep tech business like ours requires a unique blend of industry knowledge, the ability to communicate a complex value proposition effectively, and relentless drive. Acuity Advisors, as true partners, brought all of this and more to the table. James, Matthew, and Sophie expertly guided us through the intricacies of the VC and strategic landscape, leveraging their deep network to open doors and proactively address potential challenges. Their dedication, deep understanding of the semiconductor industry, and unwavering persistence were critical to closing this successful round. We couldn’t have done it without them.”

James Smith, Director at Acuity said:

“We are proud to have advised CGD on their Series C funding round. Securing investment from a strategic player is a significant achievement, and it speaks volumes about the strength of CGD’s technology and the vision of its leadership team. Giorgia and her team are going from strength to strength, and this fundraise comes at a pivotal time as the global demand for GaN devices increases. We are thrilled to see what CGD accomplishes in the future.”

Matthew Byatt, Managing Partner at Acuity commented:

“We are delighted to have advised CGD on this significant achievement against a challenging funding backdrop. This transaction underscores Acuity’s strength as the premier advisor for mid-market deep tech businesses. Acuity remains the de facto advisor for all later-stage European deep tech investments.”