Exagan raises €5.7 Million to produce GaN-on-Silicon power devices
Summary
Leti-and-Soitec Spinout Focused on Becoming Leading European Source Of GaN Devices for Solar, Automotive, Telecoms and Infrastructure. GRENOBLE, France – June 23, 2015 – Exagan, a start-up innovator of gallium-nitride (GaN) semiconductor technology that enables smaller and more efficient electrical converters, today announced it has raised €5.7 million in first-round financing that will be used to produce high-speed power switching devices on 200mm wafers. The investors include leading French venture funds with a record of identifying and fostering promising, fast-growth, early-stage technology companies: Following Exagan’s recent announcement of an agreement with X-FAB to produce devices on 200mm wafers, the financing will help support its mission of becoming Europe’s primary supplier of GaN-based power switches for the solar, automotive, IT electronics and other markets. That mission includes its strategic partnership with CEA-Leti, which is developing applications with some of its industrial partners based on Exagan’s G-FETTM 650 V platform and its unprecedented power-switching performance with extremely low conduction losses. Exagan, based in Grenoble with a branch office in Toulouse, was spun off by Leti and Soitec in 2014 and licenses materials and technology from both organizations.