SweGaN strengthens its position with a SEK 6M new investment.

Sweden Investments 13 September 2017
Share on FacebookShare on Twitter

SweGaN, a Linköping, Sweden-based company working on a manufacturing solution for semiconductors, announced closing a SEK 6M ($750k) investment round.

The money comes from existing investors, including American VC Mount Wilson Ventures, Almi Invest and Linköping University, and will be used to scale up the operations of the company.

SweGaN, founded in 2014 and led by CEO Olof Kordina, developed patented technology to meet the challenges of high performance and high-frequency GaN devices. Their nitride-based epitaxial structures are designed for a wide range of applications, including telecommunications for the 5G network, satellite communications and defense or civilian sensors.

The strategy is to increase and improve production to meet the growing demand for high quality epiwafers. Production capacity is increased by a factor of five, and by the beginning of 2018, the company will start producing on 6 "substrates instead of the current 4" substrates. 2017 is expected to grow 300% on sales revenue, the employment of 3 new employees and the launch of a new product range by the end of the year.