GaN Systems Inc. has raised unclosed amount in additional Series C funding from Delta Electronics, Inc. (TPE: 2308), the worldwide leader in power systems.
Delta Electronics joined BMW i Ventures as strategic investors in GaN Systems.
Founded in 1971, Taipei, Taiwan based Delta Electronics is the world’s largest provider of switching power supplies and brushless fans.
In May 2015, GaN Systems completed its US $20 million Series C round led by Cycle Capital Management with participation of BDC Capital, Tsing Capital, Chrysalix Energy Venture Capital, and RockPort Capital.
Ottawa based GaN Systems is the global leader in GaN power semiconductors with the largest portfolio of transistors that uniquely address the needs of today’s most demanding industries including data center servers, renewable energy systems, automotive, industrial motors and consumer electronics.
GaN Systems plans to use the new funding to expand global sales and accelerate product innovation to help customers reduce system costs, increase revenue and gain market share.
“This investment reaffirms GaN Systems’ continued accomplishment in creating the future of the most energy efficient power electronics,” said Uwe Higgen, Managing Director of BMW i Ventures. “GaN Systems’ is pioneering a new approach to the design and creation of power systems that are smaller and lighter, while simultaneously providing more efficient and reliable power conversion.”
Jim Witham, CEO of GaN Systems, stated: “Over the past decade, GaN Systems has achieved its goal of building the company into the world’s most prominent manufacturer of GaN power transistors and the leading player in the global GaN power device market. We are honored to have Delta join us as a strategic corporate investor. It’s a huge vote of confidence, both in GaN as a technology and GaN Systems’ approach to GaN transistors, to have investment partners such as Delta and BMW i Ventures. With the opportunity to combine the technological leadership of GaN Systems with our strategic investors, we are taking a major step forward in solving the universal problem of energy wasted in power conversion.”
photo credit: GaN Systems
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