Ottawa tech firm GaN Systems revved up about BMW investment
Kanata company’s next-generation semiconductor technology attracts multimillion-dollar injection of equity led by German automaker
A Kanata firm that makes transistors that help electric and autonomous vehicles run more efficiently has landed millions in funding from one of the world’s leading automakers.
GaN Systems recently announced the new infusion of capital led by BMW i Ventures, the investment arm of the German high-performance car manufacturer. Existing investors BDC Capital, Chrysalix Venture Capital, Cycle Capital Management, RockPort Capital and Tsing Capital also contributed to the round.
Company officials would not divulge the size of the latest investment, but several media outlets have valued it at more than C$40 million.
It’s the latest funding win for GaN Systems, a rapidly growing west-end firm that specializes in high-speed semiconductors made of gallium nitride. GaN, as it’s commonly known, is a byproduct of aluminum and zinc production known for its incredibly high heat capacity and conductivity.