NESS ZIONA, ISRAEL
VisIC Technologies has completed a $35M funding round to support the strong demand coming from a rising number of automotive clients, with the funding round led by GoldenSand Capital (金沙江资本) and HG Semiconductors（宏光半导体）through Fast Semi Corporation. SuZhou industrial partner joined the investment round as a co-investor with an additional $10M.
VisIC Technologies is a world leader in Gallium Nitride (GaN) devices for electric transportation applications, focused on high-power automotive solutions. Its efficient and scalable products are based on deep technological knowledge drive from decades of semiconductor experience in GaN.
“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,” said Dr. Tamara Baksht, CEO and co-founder of VisIC. “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 offering and provide better customer support to our customers.”
Sonny Wu, representing Fast Semi Corporation, will join the Board of Directors of VisIC Technologies. Sonny co-founded GSR Ventures in 2004 and is currently the Chairman of GoldenSand Capital. As a Board Member he will lead the effort for marketing of VisIC automotive GaN devices for the Chinese market through GSR Semiconductors and its High Power and Fast Charge Technology Lab in ShenZhen, “GSR is investing in technologically game changing companies and I am very impressed by VisIC’s product and by its highly knowledgeable team. We are excited about the opportunity to work with Tamara Baksht, Gregory Bunin and the team to accelerate the usage of GaN and create a globally successful enterprise.” said Sonny Wu.
Tamara Baksht, CEO and co-founder of VisIC, said: “I am excited to build the company at a time when GaN technology and automotive demand are meeting to create a thriving market.”
Matthew Byatt, Managing Partner at Acuity Advisors, said: “VisIC has a unique GaN technology that will make a big impact facilitating the adoption of electric vehicles, by improving the user experience. This transaction confirms Acuity’s leadership and large network in the semiconductor industry, covering new areas such as compound semiconductors. It has been a privilege to work alongside Tamara, a passionate and dedicated founder.”