Ascatron secured $4M funding for further development of its own products.
Ascatron, a Stockholm, Sweden-based semiconductors manufacturer, announced closing €3.5M ($4M) in capital financing.
The announcement was made as Ascatron recently completed the sale of its shares in a Joint Venture company in China, and by this secured funding to continue the independent development of its own products.
Ascatron, founded in 2011 and led by CEO Christian Vieider, is a spinout from the research institute Acreo producing advanced SiC epitaxy material as it aims to develop medium and high voltage power semiconductor products with minimal losses and reliable operation based on advanced SiC material technology.
The business model is semi-fabless where Ascatron design the power device and keep in-house production of the key epitaxy material, while chip fabrication is outsourced - the fabrication process for volume production of SiC power diodes and MOSFETs is established at an Automotive qualified SiC foundry. Ascatron development and material production is based in Stockholm, Sweden.
Prior to this, in 2016, Ascatron completed a financing round of €4M, 3 of which in equity.