Transphorm raises $25 Million in Series D Funding
The current round of funding has brought the total funding to $63 million. They have earlier raised their series C funding of $20 million from Google Ventures and the existing partners. The current fund raised will be used to continue solving the huge problem of electric waste, which occurs whenever electricity from the grid is converted into usable electric power.
On 23 February 2011, Transphorm emerged from a furtiveness mode at an event at Google's headquarters in Mountain View in Silicon Valley. Co-Founded by Umesh Mishra and Primit Parikh in February 2011, Transphorm has successfully released the first complete solution to eliminating power waste, using its breakthrough Gallium Nitride (GaN) based power conversion models. The Advanced Research Projects Agency-Energy (ARPA-E) had awarded the company $2.95 million to invent normally-off GaN switches while moving their GaN platform to low-cost silicon substrates.
"Our top-tier investor partners are a testament to the achievements of the Transphorm team commercializing a Total GaN solution for next-generation power conversion. The company is a revolution in energy efficiency, paving the way for the mass production of consumer, commercial and industrial technology products designed for optimum electrical efficiency," said Umesh Mishra, Co-Founder and CEO, Transphorm.
According to the company, its Total GaN solution can reduce the 10 percent of power that is wasted by as much as 90 percent, as well as simplifying the design and manufacturing of wide variety of electrical systems and devices, including motor devices, power supplies and inverters for solar panels and electric vehicles. They launched their first product in March, in Applied Power Electronics Conference (APEC 2011) in Fort Worth, which is a power diode based on its patented EZ GaN technology. At May's PCIM Europe 2011 conference in Nuremberg, Germany, they unveiled their 600 V EZ-GaN transistor, which is intended to displace legacy silicon-based power conversion technology and reduces switching losses by up to 95 percent.
"The fund will be used to continue our expansion and scale up to meet growing customer demand for our products. This will enable us to grow our facilities, accelerate product development and deepen engagement with customers," said Primit Parikh, Co-Founder and President, Transphorm.
Umesh Mishra is responsible for the strategic direction of Transphorm as well as customer relationships and technology. Prior to Transphorm, he co-founded Nitres in 1996, the first start-up company to develop GaN LED's and transistors. Nitres was acquired by Cree in 2000. He was elected to the National Academy of Engineering in 2010 and received the IEEE David Sarnoff Award for 'The Development of Gallium Nitride Electronics'. He is also Professor Above-Scale (the highest academic rank in the University of California System) in the ECE Department at the University of California, where he has been a director of several GaN research centers.
Primit Parikh is also responsible for P&L, customer relationships and products, engineering and manufacturing. He has over 10 years of experience in business area leadership and over 15 years in GaN/ semiconductor development, technical marketing and intellectual property. Prior to co-founding Transphorm, he led GaN electronics at Nitres through its acquisition by Cree, where he serves as head of Advanced Technology Cree SBTC in charge of GaN development and government business. He received his B.Tech in EE from IIT, Mumbai and his Ph.D in ECE from USCB. With more than 30 patents awarded/pending in the area of GaN materials, devices and circuits, he has co-authored more than 70 publications and presentations.
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