SweGaN raises nearly €12M of equity
SweGaN AB, a Sweden-based semiconductor manufacturer that develops and produces custom engineered GaN-on-SiC epitaxial wafers, has closed a substantial equity round from financial and strategic investors.
The investment will propel strategic collaborations and boost material development for growing power device markets. In this financing round, early-stage investor Navigare Ventures, a fully owned subsidiary of Wallenberg Investments AB, joins as an active shareholder in the semiconductor manufacturer.
The nearly €12M capital raise has also brought global semiconductor-focused investors onboard: Wafer Works from Taiwan , RFHIC, Ignite Innovation and BRV Capital Management from South Korea, and Lifelike Capital from the US.
Navigare Ventures, an investment company focused on research-based companies, has invested in SweGaN to support the company’s long-term growth plan. Additionally, the Navigare Ventures ownership stake brings two new board members to SweGaN.
These are Alex Basu, investment manager at Navigare Ventures with extensive experience in deep tech and board roles; and Pontus de Laval, senior advisor at Navigare Ventures and the Knut and Alice Wallenberg Foundation, and former CTO of Saab.
Jr-Tai Chen, CEO, SweGaN said: “We are thrilled to welcome all of our new investors and also Navigare Ventures as a key partner in SweGaN’s long-term development. Their long-term support will champion our customer confidence and foster strategic collaboration with SweGaN for future initiatives.”
David Sonnek, CEO, Navigare Ventures: “SweGaN’s unique technologies and skilled team position them to excel in semiconductor material manufacturing, poised to accelerate the adoption of new power semiconductors through innovative research and product development. Our long-term investment focus reflects a strong commitment to supporting SweGaN’s mission to build expertise, expand capabilities, and strengthen regional supply chains critical to the European semiconductor industry.”
