Tuesday, March 3, 2020

Transphorm Takes $21.5M In Funding, Enters Into Reverse Merger

Goleta-based Transphorm, which develops gallium nitride (GaN) semiconductors for power conversion, said today that it has raised $21.5M in an equity financing, and also entered into a reverse merger with an entity called Peninsula Acquisition Corporation. According to Transphorm, following the merger, Peninsula changed its name to Transphorm, Inc., and will continue the historical business of Transphorm. Transphorm said the funding came from existing investors, including an affiliate of Kohlberg Kravis Roberts & Co. L.P. (KKR), a new strategic investor, Marelli, and new, un-named institutional investors. The company said the new funding will support and accelerate our product development, manufacturing, and sales. Transphorm is led by CEO Mario Rivas.