Exagan
Exagan, a French start-up spun out of CEA-Leti and Soitec to develop gallium-nitride (GaN) power semiconductors, has raised €5.7m in first-round financing that will be used to produce high-speed power switching devices on 200mm wafers.
Exagan, which is working with European foundry X-FAB to produce devices on 200mm wafers, is aiming to be Europe’s primary supplier of GaN-based power switches for the solar and automotive markets.
In partnership with CEA-Leti, Grenoble-based Exagan is developing the G-FETTM 650V power-switching platform.
“This significant first round of financing validates our efforts over the past five years with Leti and Soitec to commercialize GaN-on-silicon technology and supports our commitment to provide customers with qualified GaN devices in large volumes,” said Frédéric Dupont, Exagan CEO and co-founder.
According to Soitec CEO Paul Boudre, GAN-on-silicon technology opens interesting opportunities in promising markets such as electronics, automotive and energy.
“Exagan is well positioned to drive innovation in power switching technology, due to its location in Grenoble among the strong mix of innovative companies and technology-integration clusters,” said Boudre.
Soitec and CEA Investissement also provided financial support to Exagan prior to the first round of venture-fund backing.
Leti CEO Marie Semeria said Leti has invested many years in developing GaN technologies because it believes they will drive innovation in the power-electronics industry and accelerate development of sustainable-energy technologies.
“We are very excited about the prospects for Exagan, a European source of new GaN power switches for our key industrial partners in the fields of transportation and energy, as well as broader markets,” she said. “Through our partnership with Exagan, Leti will accelerate its investment in this area to further develop our leading expertise in GaN technology and related systems and applications.”
Vincent Deltrieu, a partner at investor Innovacom, said:
“Exagan is well positioned to establish itself as a key technology provider in this high-growth market that has the potential to exceed 1 billion euros in the coming years.”
Jean-Michel Petit, managing director of IRDInov, said: “Based on our experience with the automotive and aerospace industries, we are convinced of the potential markets for GaN power electronic devices. This is all the more reason to further develop its presence in Toulouse, which has a concentration of competencies in power-electronics applications and many potential future clients.”
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