VisIC Technologies has closed $11.6 million in a Series C financing lead by a new investor Birch Investment with participation of existing investors. 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.
"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." said Tamara Baksht, VisIC Technologies' founder and CEO.
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. VisIC Technologies is the company that demonstrated in May performance of high current GaN switching device, following by breakthrough demonstration of 1200V GaN power switch, the only 1200V GaN device with outstanding dynamic performance known in industry.