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GaN power start-up receives Japanese backing

Posted: 03 Oct 2012 ?? ?Print Version ?Bookmark and Share

Keywords:gallium nitride? power devices? silicon wafers? Series E investment?

Transphorm Inc. has closed a Series E round of financing worth $35 million. The company specialises in gallium nitride power devices made on silicon wafers. The round was led by Innovation Network Corp. of Japan (INCJ) and Nihon Inter Electronics Co. (NIEC).

Transphorm looks manufacture high-voltage GaN-on-silicon power devices that will demonstrate better power efficiency than technologies and sell components into applications including power supplies, inverters for solar panels and electric vehicles.

INCJ is a public-private partnership between the Japanese government and 27 major corporations, including Sharp, Sumitomo Electric, Toshiba and General Electric Japan that has an investment capacity of about 2 trillion yen (about $25 billion). In addition to making a financial investment NIEC has entered into a business agreement with Transphorm allowing the company to act as a second source for Transphorm products.

Existing investors in Transphorm also participated including: Kleiner Perkins Caufield & Byers, Foundation Capital, Google Ventures, Quantum Strategic Partners, Lux Capital, and Bright Capital. The Series E investment brings the total amount invested in Transphorm since its formation in 2007 to $104 million.

"Through NIEC, our customers will benefit with broader distribution channels, as well as a reputable second source for some of our packaged products," said Primit Parikh, president of Transphorm, in a statement.

- Peter Clarke
??EE Times

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