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Japan’s INCJ, Nihon Inter Electrics lead $35m Series E for Transphorm

2 Oct 2012

The Innovation Network Corporation of Japan and the Nihon Inter Electrics Company have led a $35m Series E financing round for US power conversion specialist Transphorm.

Other contributors included existing venture investors Kleiner Perkins Caufield & Byers, Foundation Capital, Google Ventures, Quantum Strategic Partners, Lux Capital and Bright Capital.

This investment brings the total raised by the company to $104m, which will be used to commercialise Transphorm’s new GaN technology.

In addition, NIEC has entered into a business alliance with Transphorm, with the aim of enabling the mass production of GaN products.

Umesh Mishra, CEO of Transphorm, said, “The investment from INCJ substantiates GaN as the next generation energy efficiency technology.

“The need for energy efficiency remains paramount even as the sources of energy change. Today’s strategic financing, coupled with the earlier investments, enables scaling of this disruptive technology and helps eliminate energy waste in multiple markets from servers to solar panels, from HVACs to hybrids.”

Primit Parikh, president of Transphorm, added, “The INCJ-enabled alliance with NIEC helps Transphorm accelerate its business while maintaining its global leadership position in GaN power conversion.

“Through NIEC, our customers will benefit with broader distribution channels, as well as a reputable second source for some of our packaged products.”

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