Israeli high-power auto-tech solutions company VisIC Technologies has completed a $35 million financing round led by GoldenSand Capital and HG Semiconductors through Fast Semi Corporation. SuZhou industrial partner joined the investment round as a co-investor with an additional $10 million.
VisIC Technologies has developed Gallium Nitride (GaN) devices for electric transportation applications, focused on high-power automotive solutions. The company's efficient and scalable products are based on deep technological knowledge drive from decades of semiconductor experience in GaN. The financing round will support strong demand coming from a rising number of automotive clients.
Based in Ness Ziona, VisIc Technologies was founded by CEO DSr. Tamara Baksht and CTO Gregory Bunin.
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. 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."
Published by Globes, Israel business news - en.globes.co.il - on August 25, 2021
Copyright of Globes Publisher Itonut (1983) Ltd. 2021