Power semiconductor manufacturer Ascatron raises 3M euros in equity A series and 1M in a loan from the European Institute of Innovation and Technology (EIT)

Ascatron, a Stockholm, Sweden-based Sweden’s power semiconductor firm, announced that it has raised additional 4 million euros for finalising development of its energy-saving chips, and was closing its A round with the new funding.

The amount is a combination of 3 million euros that went into equity, and 1 million received as an innovation grant from the European Institute of Innovation and Technology (EIT) through KIC InnoEnergy.