Transphorm has completed the latest round of financing for the development of its Galiium Nitride GaN power conversion module. Quantum Strategic Partners, Kleiner Perkins Caufield and Byers, Google Ventures, Foundation Capital and Lux Capital were the investors behind the US$25 million Series D financing round, which takes the total capital raised to US$63 million.
“This investment from our top-tier investor partners is a testament to the achievements of the Transphorm team commercialising a Total GaN solution for next-generation power conversion,” Transphorm CEO Umesh Mishra said. “Transphorm is sparking a revolution in energy efficiency, paving the way for the mass production of consumer, commercial and industrial technology products designed for optimum electrical efficiency.”
The goal of the power conversion module is to reduce the waste created when electricity from the grid is converted into usable electric power. Transphorm's GaN solution cuts wastage by up to 90% and also simplifies the design and manufacturing of a wide variety of electrical systems and devices. In recent months Transphorm has increased its customer base by 50% and expanded its operations by 30% to accommodate rising demand.
And thanks to the Series D round of financing this expansion plan looks set to continue, with the additional funds used to increase the company’s production facilities and accelerate product development.