SweGaN AB Raises USD 14 Million in Series B Financing to Scale Production and Accelerate Global Growth
- Karan Bhatia
- 3 hours ago
- 2 min read
SweGaN, which manufactures high-quality, custom-made epitaxial wafers and materials based on robust GaN technology for manufacturers of leading components and devices for satellite, communications, and defense organizations, led by Jr-Tai Chen, has announced the closing of a USD 14 million Series B round. The round was led by Swedish investor Thisbe AB, Danish venture capital firm North Ventures, and existing shareholders, underscoring continued investor confidence in SweGaN’s technology, market position, and growth trajectory. Completed as an up-round, the financing brings SweGaN´s total funding raised to USD 41 million.
“Completing this financing as an up-round reflects strong confidence in SweGaN’s progress and long-term potential. Support from new and existing investors strengthens the company’s balance sheet and provides the resources to scale responsibly while investing in innovation, operational excellence, and global growth.”
— Stefan Axelsson, CFO, SweGaN AB
The financing follows a period of strong execution and growth for SweGaN, marked by an expanding customer base, new strategic partnerships, and the achievement of key customer qualification milestones.
“SweGaN has built a differentiated technology platform in a strategically important semiconductor market. The team’s execution, customer momentum, and growth potential position the company well for its next phase of expansion.”
— Fredrik Nordh, CEO, Thisbe AB
The financing comes at a pivotal moment for the wide-bandgap semiconductor industry, as GaN emerges as a key technology for next-generation RF and power electronics. Applications span 5G, satellite communications, telecom infrastructure, defense radar, and high-efficiency power conversion in data centers.
As demand grows for higher-frequency, higher-power, and more energy-efficient semiconductors, SweGaN is scaling to meet customer needs with proprietary epitaxial technology developed at its Linköping facility in Sweden.
“SweGaN has translated deep technical expertise into commercial progress in a strategically important market. As production scales, the company is well positioned to become an important European supplier of GaN-on-SiC materials and contribute to Europe’s technological sovereignty.”
— Mikkel Strandkjær, Investment Manager, North Ventures
The proceeds will support:
Production expansion to meet growing customer demand.
Global commercial growth in key markets.
Talent and infrastructure to support future scaling.
R&D acceleration for next-generation GaN-on-SiC materials.
“This financing validates SweGaN’s technology, team, and strategy while providing the resources to expand production, accelerate innovation, and meet growing global demand for high-performance GaN materials.”
— Jr-Tai Chen, CEO, SweGaN
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