Transphorm, an early stage semiconductor company, has announced a $70-million investment round led by global investment firm KKR.
KKR’s investment follows initial rounds of funding led by funds affiliated with Kleiner Perkins Caufield and Byers, Foundation Capital, Google Ventures, Soros Quantum Strategic Partners, INCJ and Fujitsu.
Transphorm will use this funding to support its growth, product innovation and expansion, the company said in a statement.
“Transphorm was launched to address the urgent and important problem of losses in power conversion, a process that converts electricity from the form it is delivered to the form that is ultimately used,” said Umesh Mishra, Chairman of Transphorm.
“By merging the technological leadership of Transphorm with the semiconductor business expertise of KKR, we are taking a major step forward in solving the global problem of energy wasted in power conversion,” Mishra added.