The company was founded in 2016 as a spin-off from Cambridge University and has claimed that its GaN transistors are over 100 times faster, lose 5 to 10 times less power and are four times smaller than existing silicon equivalents.
The money will be used to double its head count to approximately 40.
The investment was co-led by IQ Capital, Parkwalk Advisors and BGF, and includes investment from Foresight Williams, Cambridge Enterprise, Martlet Capital, Cambridge Angels and Cambridge Capital Group.
GaN power devices are higher performing than silicon-based devices, enabling reductions in the size and weight of power converters, whilst producing energy efficiencies higher than 99 percent.CGD is developing a range of GaN transistors tailored for application in switch-mode power supplies, lighting, data centre and automotive applications.
CGD is currently leading a $10 million European-supported project with 13 industrial and academic partners across Europe called GaNext intended to develop GaN-based modules for low and high-power applications.
"This investment will allow us to supplement our experienced team with additional experts and expand our markets globally, creating more sustainable electronics worldwide," said Giorgia Longobardi, CEO and co-founder of CGD, in a statement.
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