Israeli startup, VisIC Technologies, which has developed efficient power electronics based on Gallium Nitride (GaN) semiconductors, has closed $11.6 million in a Series C financing lead by a new investor Birch Investment with participation of existing investors.
The revolutionary potential of GaN-based electronics for electrical power delivery systems, from consumer power supplies to solar inverters, UPS, power supplies for Cloud/Data Centers and electric motor drives, has been marketed and anticipated for years, especially for high voltage and high current switching applications.
Based in Nezz Ziona, VisIC’s technology momentum and market drive, coupled with recent product validation by large players in the power electronics industry, lead to closing this successful investment round on favorable terms.
VisIC technologies founder and CEO Tamara Baksht said, “We are very excited by the level of support provided by VisIC’s new and existing investors, who share our vision for the extraordinary potential of VisIC’s GaN based products. It is an important milestone for our company. Having achieved the best performance metrics for any GaN devices in the market, this new capital infusion positions us to accelerate commercialization and dominate the market segment.”
Published by Globes [online], Israel business news - www.globes-online.com - on January 15, 2017
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