Electric Car Power Conversion Company VisIC Raises $10 Million

Israel-based power conversion company VisIC Technologies Ltd. has raised $10 million in a series D funding round led by an unnamed private investor, the company announced Wednesday.

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VisIC intends to use the funding to expand its array of products, its technical support team and its global marketing efforts, VisIC co-founder and CEO Tamara Baksht said in a statement.

Founded in 2010 and based in Ness Ziona, a town in central Israel, VisIC develops gallium nitride (GaN)-based high-voltage power conversion technologies for electric and autonomous cars, meant to increase the charging speed and performance of batteries in vehicles. The latest round brings VisIC’s total funding raised to $21.6 million. Previous investors include Israeli venture capital firm Genesis Partners, Tel Aviv-based Federmann Enterprises Ltd. and the Israeli Ministry of Industry, Trade and Labour.