VisIC Technologies Ltd., a global leader in gallium nitride (GaN) devices for automotive high-voltage applications, has successfully raised a Series E financing round with participation from MediaTek, the world’s 4th largest global fabless semiconductor company. This round of financing will help the company to enlarge its portfolio for Electrical Vehicles high power systems.
“This round of financing will help us to enlarge our portfolio and continue to develop a solid manufacturing foundation for existing products” said Dr. Tamara Baksht, VisIC CEO. “We are very happy to see MediaTek as part of VisIC investors. As a great innovative fabless company, MediaTek is a constant source of inspiration for us to work harder and to deliver new technological solutions to make meaningful changes in industry and life. We have a lot to learn from MediaTek how to grow innovation and make a difference in the mutual Automotive market”, added Dr. Tamara Baksht.
MediaTek, which its dedication to innovation and has positioned itself as a driving market force in several key technology areas, including highly power-efficient mobile technologies, automotive solutions, and a broad range of advanced multimedia products, invested in VisIC and will contribute from its experience to accelerate VisIC’s innovation and sales.
“VisIC has impressive innovation and development around GaN for high power electric vehicles that improve the efficiency and performance, from hybrid up to full electric applications. We believe this technology is key to improve electric vehicle performance and affordability,” said Dr. Lawrence Loh, Senior Vice President of MediaTek.