News: Suppliers
17 August 2026
SweGaN raises $14m in Series B financing to accelerate global growth
SweGaN AB of Linköping, Sweden — which designs, develops and manufactures custom gallium nitride on silicon carbide (GaN-on-SiC) epitaxial wafers, based on proprietary growth technology — has closed a US$14m Series B round of financing led by Swedish investor Thisbe AB (part of the Wallenberg Investments ecosystem), Copenhagen-based venture capital firm North Ventures and existing shareholders. This brings total funding to US$41m.
“Completing this financing as an up-round is a strong endorsement of SweGaN’s progress and long-term potential,” says chief financial officer Stefan Axelsson. “The support from both new and existing investors strengthens our balance sheet and provides the resources needed to scale responsibly while continuing to invest in innovation, operational excellence, and global growth,” he adds. “We are entering our next phase from a position of financial strength.”
SweGaN says that the financing follows a period of strong execution and growth, 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,” comments Thisbe’s CEO Fredrik Nordh. “We are impressed by the team's execution, customer momentum, and growth potential.”
SweGaN says that, as global demand for higher-frequency, higher-power and more energy-efficient semiconductor solutions continues to grow, it is positioning itself to meet increasing customer needs through its proprietary epitaxial technology.
“SweGaN has turned deep technical expertise into clear commercial progress in a strategically important market,” notes North Ventures’ investment manager Mikkel Strandkjær. “As the company scales production, we believe it is well positioned to become an increasingly important European supplier of GaN-on-SiC materials and help strengthen Europe’s technological sovereignty.”
The proceeds will be used to:
- expand production capacity to meet increasing customer demand;
- strengthen commercial presence in key global markets;
- invest in talent and infrastructure to support future expansion; and
- accelerate R&D of next-generation GaN-on-SiC materials.
“This financing is a strong validation of our technology, team, and strategy,” says CEO Jr-Tai Chen. “It enables us to expand production, accelerate innovation, and better serve customers worldwide as demand for high-performanceGaN materials continues to grow.”
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