SweGaN AB, a Swedish company that develops and manufactures gallium nitride on silicon carbide (GaN-on-SiC) wafers, has raised US$14 million in a Series B funding round.
The round was led by Thisbe AB, North Ventures, and SweGaN’s existing investors. The funding was raised at a higher valuation than the previous round, showing strong investor confidence in the company. With this investment, SweGaN’s total funding has reached US$41 million.
“Completing this financing as an up-round is a strong endorsement of SweGaN’s progress and long-term potential. The support from both new and existing investors strengthens our balance sheet and provides the resources needed to scale responsibly while continuing to invest in innovation, operational excellence, and global growth. We are entering our next phase from a position of financial strength,” said Stefan Axelsson, CFO of SweGaN AB.
The new funding comes after a period of strong growth and progress for SweGaN. The company has gained more customers, formed new strategic partnerships, and reached important customer qualification milestones.
“SweGaN has built a differentiated technology platform in a strategically important semiconductor market. We are impressed by the team’s execution, customer momentum, and growth potential, and are delighted to support the company’s next phase of expansion,” said Fredrik Nordh, CEO of Thisbe AB.
The new funding comes at an important time for the wide-bandgap semiconductor industry. Gallium nitride (GaN) is becoming an important technology for the next generation of RF and power electronics.
GaN technology is being used in areas such as 5G networks, satellite communications, telecom infrastructure, defence radar, and energy-efficient power systems for data centres. Demand is growing as industries need faster, more powerful, and energy-saving semiconductor solutions.
SweGaN is preparing to meet this growing demand with its proprietary epitaxial technology. The technology has been developed and improved at the company’s facility in Linköping, Sweden.
“SweGaN has turned deep technical expertise into clear commercial progress in a strategically important market. As the company scales production, we believe it is well positioned to become an increasingly important European supplier of GaN-on-SiC materials and help strengthen Europe’s technological sovereignty,” said Mikkel Strandkjær, Investment Manager at North Ventures.
SweGaN AB is a Swedish DeepTech company based in Linköping. It develops and manufactures gallium nitride on silicon carbide (GaN-on-SiC) wafers. The company’s technology is based on research from Linköping University and is designed to deliver high-performance materials for RF and power electronics.
SweGaN provides its technology to customers in telecommunications, defence, aerospace, and industrial sectors around the world. Its materials support the development of next-generation semiconductor devices that offer higher performance, greater power, and better energy efficiency.
