British Patient Capital, a commercial subsidiary of the British Business Bank, has made a £5m investment into Cambridge GaN Devices (CGD) as part of a $32 million Series C funding round.

Other investors included  Cambridge Innovation Capital (CIC), IQ Capital, Parkwalk, Foresight, and BGF.

British Patient Capital’s investment was made through the £425m Future Fund: Breakthrough programme, which co-invests with private sector investors in innovative, R&D-intensive UK companies.

 

This 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.

CGD’s  ICeGaN technology claims efficiency levels of over  99% are achievable, translating into energy savings of up to 50% in a wide range of high power applications.

The funding will enable the company to expand its operations in Cambridge, Taiwan, Europe, and North America, and deliver CGD’s unique value proposition to its growing customer base.