VIsIC Technologies Raise Funds for GaN-based Automotive Applications
ViSIC Technologies received $35 million in funding to expand its GaN-based product range for automotive applications.
VisIC Technologies Ltd. is a developer and supplier of gallium nitride (GaN) products for the automotive industry. The company focuses on providing high power GaN-based transistor products for high-performance automotive inverter systems. Last month ViSIC announced that it had raised $35 million in funding to push forward the adoption of GaN semiconductors in electric transportation.
GaN is a semiconductor material with a wide range of applications in the electronics and electric industry. It is also one of the few semiconductors that can operate at high temperatures and in moist environments. GaN is considered to be an excellent choice for electric vehicle (EV) power inverters and drive motors because it can provide high power density, faster switching and can be used in extreme climates. For more detail on GaN-based inverter solutions, you can visit this page.
Technologies that have been developed using GaN include LEDs, RF transmitters, satellite TV receivers, solar cells, and transistors. It is also another option for small electronics like smartphones where it not only reduces weight but also allows for higher frequency bands that produce faster data speeds.
Key features of GaN technology. Image used courtesy of ViSIC
The investment round was led by GoldenSand Capital and HG Semiconductors through Fast Semi Corporation. SuZhou industrial partner came in as a co-investor and added $10 million.
In a news release from late August, the CEO and Co-Founder of VisIC, Dr. Tamara Baksht, said, “The electrification of the automotive industry has generated significant demand for power components, which we foresee to continue its strong growth for the next decade.” Baksht added, “At the same time, the efficiency of battery energy usage is critical for the cost and performance of electric cars, and GaN-based components are superior over competing technologies for high efficiency. With this investment round, we will be able to expand our product offer and provide better customer support to our customers.”
A representative from Fast Semi Corporation, Sonny Wu, has joined ViSIC Technologies as a Board Member. Wu is also the current Chairman of Boston Power Co and Sunsun Lighting Holding, Asia.
In the same news release from ViSIC, Wu said, “GSR is investing in technologically game-changing companies and I am very impressed by VisIC’s product and by its highly knowledgeable team. We are excited about the opportunity to work with Tamara Baksht, Gregory Bunin, and the team to accelerate the usage of GaN and create a globally successful enterprise.“, said Sonny Wu.
Wu will be an invaluable guide to ViSIC with many years of expertise in handling investments concerning semiconductors, new materials, and wireless internet technology. In 2004, Wu co-founded GSR Ventures and has been working on several investments in battery and renewable energy technologies.
The total investment value of $35 million will be used to expand ViSIC’s GaN-based product offering for automotive applications. This will undoubtedly help automakers with electric vehicle production to meet worldwide customer demand.