Avogy raises $40 Million to Accelerate GaN Development

Avogy, Inc. today announced it has raised $40 million in Series B funding. New investor Intel Capital led the round with participation from existing investor Khosla Ventures. Avogy has more than 20 patents and 40 patent applications in vertical GaN semiconductor technology, power topology and controllers that enable disruptive innovation in power systems. To achieve these technological advances, Avogy has assembled a team of very experienced semiconductor and power systems professionals from industry leading public companies.

The investment from Intel Capital highlights Avogy’s position as a rising force in the power systems category, bringing smarter and more efficient power systems to businesses and consumers. Avogy will use this capital to continue developing the semiconductor and systems technology that enables disruptive innovation in the form of smaller, lighter and more efficient power supplies while building out its go-to-market strategy. Managing Director Ramamurthy Sivakumar and Director Stephen Saltzman led the investment for Intel Capital.

“Avogy has demonstrated new technology that dramatically reduces the cost, size and weight of power systems, which will benefit consumers,” said Arvind Sodhani, President of Intel Capital and Executive Vice President of Intel Corp. “The company’s products are a strategic fit for a broad range of Intel platforms, including Ultrabooks, all-in-ones and workstations.”

“Power systems have to evolve to meet the needs of an increasingly mobile workforce which utilizes multiple devices. We are radically changing the way these devices will be powered,” said Dinesh Ramanathan, President and CEO, Avogy. “Intel has opened up opportunities for Avogy products in the consumer marketplace. We expect to add new strategic partners to proliferate Avogy products in other market segments.”

Founded in 2010, Avogy, Inc. is focused on advancing energy efficiency and reliability of power conversion systems while dramatically reducing their cost, size and weight. Its in-house capabilities include a 3,500 square foot clean room with sub-micron lithography, multiple MOCVD reactors for growing GaN epitaxial layers, device fabrication and a full suite of electrical testing and metrology tools. All processing is in-house, giving Avogy the ability to complete experimental lots in the shortest time possible and run volume production without relying on subcontractors.