Israeli company VisIC Technologies Ltd., which develops gallium nitride (GaN) devices for automotive high-voltage applications, announced the completion of a Series E funding round. The investment was led by MediaTek, a global fabless semiconductor company. Although the Series E was reported today (Monday), the total sum of investment has yet to be released.
"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 has its hand in pretty much all the technological cookie jars, invested in VisIC and will contribute from its experience to accelerate VisIC's innovation and sales. The Taiwanese fabless semiconductor company provides chips for wireless communications, high-definition television, handheld mobile devices like smartphones and tablets, navigation systems, and automotive. The strategic investment will help implement VicIC’s GaN-based technology for hybrid and e-Vehicles.
"VisIC has impressive innovation and development around GaN for high power electric vehicles that improves 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.