News: Microelectronics
7 April 2026
IVWorks raises $4.5m to expand reGaN technology into RF and AI power semi markets
IVWorks Co Ltd of Daejeon, South Korea – which was founded in 2011 and manufactures 100–200mm gallium nitride (GaN) epitaxial wafers for RF & power electronics applications – is accelerating its expansion into the GaN semiconductor market through its proprietary reGaN technology while continuing to expand its core epiwafer business across multiple advanced device platforms. Leveraging its epitaxy expertise, the firm is positioning itself as a solution provider for next-generation RF and power semiconductor applications, including aluminium nitride (AlN) high-electron-mobility transistors (HEMTs) on silicon carbide (SiC), GaN HEMT on silicon, and vertical GaN epiwafers.
To support this growth, IVWorks recently closed a funding round of about $4.5m, bringing its cumulative investment to $33m.
The newly secured capital will be strategically deployed to strengthen mass-production infrastructure and stabilize the global supply chain, enabling a rapid response to growing global demand for GaN materials and epitaxy.
Picture: IVWorks reGaN (n+-GaN regrowth on 8inch GaN HEMT).
IVWorks says that its ‘reGaN’ technology represents a high-value business platform built on its core selective-area regrowth capability for GaN device integration.
Recently, reGaN demonstrated commercial readiness and technical reliability by completing major foundry qualification and supplying qualified products to leading global semiconductor foundries.
The firm says that this solution directly addresses key industry challenges, particularly contact resistance reduction in GaN devices, significantly improving device performance and efficiency.
The technology is currently expanding into E-band and W-band RF applications for satellite communications and wireless backhaul, while also entering AI power delivery markets through point-of-load (PoL) converters for advanced computing platforms including high-bandwidth memory (HBM) and graphic processing unit (GPU) systems.
In parallel with this investment, IVWorks has initiated preparations for a KOSDAQ listing, with Korea Investment & Securities Co Ltd serving as the lead underwriter.
“This investment reflects our shareholders’ confidence in IVWorks’ technical roadmap,” says IVWorks’ CEO Young-Kyun Noh. “We remain committed to solving critical technical challenges for our global partners through reGaN while building a sustainable growth foundation through our planned IPO.”
IVWorks implements mass production of 8-inch InGaN/GaN nanowire epiwafers
