VisIC Technologies raises Series E to support growing EV market

The new financing round will allow the emerging GaN power electronics supplier to deliver high performing GaN products to growing electric transportation industry segment

MediaTek to invest in VisIC's series E

VisIC's D³GaN technology developed for electrical vehicles systems will enlarge its offering using the last investment round

NESS ZIONA, Israel, Oct. 20, 2020 /PRNewswire/ -- VisIC Technologies Ltd., a global leader in gallium nitride (GaN) devices for automotive high-voltage applications, has successfully raised a Series E financing round with participation from  MediaTek, the world's 4th largest global fabless semiconductor company. This round of financing will help the company to enlarge its portfolio for Electrical Vehicles high power systems.  

"This round of financing will help us to enlarge our portfolio and continue to develop a solid manufacturing foundation for existing products" said Dr. Tamara Baksht,  VisIC CEO. "We are very happy to see MediaTek as part of VisIC investors. As a great innovative fabless company, MediaTek is a constant source of inspiration for us to work harder and to deliver new technological solutions to make meaningful changes in industry and life. We have a lot to learn from MediaTek how to grow innovation and make a difference in the mutual Automotive market", added Dr. Tamara Baksht.

MediaTek, which its dedication to innovation and has positioned itself as a driving market force in several key technology areas, including highly power-efficient mobile technologies, automotive solutions, and a broad range of advanced multimedia products, invested in VisIC and will contribute from its experience to accelerate VisIC's innovation and sales.

"VisIC has impressive innovation and development around GaN for high power electric vehicles that improves the efficiency and performance, from hybrid up to full electric applications. We believe this technology is key to improve electric vehicle performance and affordability," said Dr. Lawrence Loh,  Senior Vice President of MediaTek.

This press release and further information can be found at www.visic-tech.com

About VisIC Technologies Ltd.

VisIC Technologies is a world leader in GaN electronics for xEV applications, focused on high-power automotive solutions. Its efficient and scalable products are based on deep technological knowledge of gallium-nitride and decades of experience. VisIC is committed to providing a step function improvement in terms of size and cost of energy conversion systems and is dedicated to high-quality customer support at all development phases. VisIC offers high power transistor products based upon compound semiconductor Gallium Nitride (GaN) material aiming to provide products for cost-effective and high-performance automotive inverter systems.

About MediaTek Inc.

MediaTek Incorporated (TWSE: 2454) is a global fabless semiconductor company that enables 1.5 billion connected devices a year. We are a market leader in developing innovative systems-on-chip (SoC) for a mobile device, home entertainment, connectivity, and IoT products. Our dedication to innovation has positioned us as a driving market force in several key technology areas, including highly power-efficient mobile technologies, automotive solutions, and a broad range of advanced multimedia products such as smartphones, tablets, digital televisions, 5G, Voice Assistant Devices (VAD) and wearables. MediaTek empowers and inspires people to expand their horizons and achieve their goals through smart technology, more easily and efficiently than ever before. We work with the brands you love to make great technology accessible to everyone, and it drives everything we do. Visit www.mediatek.com for more information.

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