AVITIC joins Wise-Integration's B funding round
Wise-integration, a French pioneer in digital control of GaN and GaN ICs for power supplies, has announced that a new investment fund, Applied Ventures-ITIC Innovation Fund (AVITIC), has joined the company’s Series B funding round.
AVITIC is a joint venture fund of Applied Ventures, LLC, the corporate venture arm of Applied Materials, and ITIC-Taiwan, (Industrial Technology Investment Corporation). Wise-integration announced its Series B funding round of €15 million in February 2024, led by IMEC.XPAND, accompanied by Supernova Invest, the lead of the previous round. The amount of the additional funding was not disclosed.
The Series B round will fuel mass production and commercial deployment of Wise-integration’s flagship products, WiseGan and WiseWare, its digital-control technology, and support for its clients globally. The four-year-old company says it will increase its focus on high-value markets, such as the industrial, telecom and automotive sectors.
"We are pleased to have AVITIC join us as a strategic investor. Their support demonstrates the strong potential of our technology and vision. It elevates our global standing and sharpens our ability to harness GaN technology with cutting-edge digital control,” said Wise-integration CEO Thierry Bouchet.
In addition to ramping up production of its flagship products, Wise-integration plans to use the Series B funding, to accelerate development of a new generation of high-performance GaN technology designed to integrate with digital controls and boost the efficiency and performance of power systems across various sectors.
Michel Chu, president of ITIC, said, “We are excited to support the Wise-Integration team with their unique approach to power-electronics solutions. With their WiseWare digital control and WiseGaN, it could further unleash the potential of GaN and boost the efficiency of power electronics.”
Anand Kamannavar, VP and global head of Applied Ventures, said, “Enabling next-generation power electronics is an important pillar of sustainability. We look forward to supporting Wise-integration in developing their differentiated GaN technologies.”
