Sweden’s SweGaN raises €12.1 million to scale gallium nitride on silicon carbide epitaxial wafer production

SweGaN, a Linköping-based DeepTech company focused on designing, developing, and manufacturing gallium nitride on silicon carbide (GaN-on-SiC) epitaxial wafers, has secured €12.09 million ($14 million) in a Series B round of funding. The investment round was led by Thisbe AB, North Ventures, and existing shareholders, and is an up-round that brings SweGaN's total funding to €35.4 million ($41 million).

The company's CFO, Stefan Axelsson, stated that the financing endorsement highlights SweGaN's progress and potential, and the support from investors strengthens the company's balance sheet for scaling production and continuing innovation. SweGaN was established in 2014 as a spin-off from a research group at Linköping University, led by Professor Erik Janzén and co-founder Dr. Jr-Tai Chen.

The company manufactures GaN-on-SiC epitaxial wafers using its patented QuanFINE® growth technology, providing customer-engineered high-performance wafers and materials to support diverse market sectors, including 5G telecommunications, defence radar, satellite communications, aerospace, and power applications for electric vehicles and data centres.

The financing follows a period of strong growth for SweGaN, including an expanding customer base, strategic partnerships, and meeting key customer milestones. The investment manager at North Ventures, Mikkel Strandkjær, believes SweGaN is well-positioned to become an important European supplier of GaN-on-SiC materials and strengthen Europe's technological sovereignty.

The company plans to use the capital to expand production, strengthen commercial presence in key markets, invest in talent and infrastructure, and accelerate R&D of next-generation GaN-on-SiC materials.