Mivium - Equity Fund

$5.1M Raised

Let’s talk GaN. And not in the theoretical, chip-on-paper, over-promised-under-manufactured sense. I mean real, scalable, clean gallium nitride, grown, not guessed. That’s the play Mivium, Inc. is running, and on May 1st, they just pulled in $5.1 million through a regulated crowdfunding round that proves the people are paying attention. No billion-dollar logos. No institutional flex. Just belief, earned one patent, one prototype, and one brutally honest pitch at a time.

Founded in July 2022, Mivium’s not some rent-a-lab vaporware startup faking it till a Series B. This crew is built different. At the helm: Eric Tsai, ex-Joybird operator who scaled revenue from $10M to $200M+ and exited to La-Z-Boy like it was just another Tuesday. Alongside him, Rick Qiu, the product whisperer with Malwarebytes, McAfee, and okia in his rearview and a founder badge from his own AR startup, Mearview. March 2024 brought in big guns, COO Gino Addiego Ph.D., formerly of Applied Materials and Ultra Clean Technology, and CTO Dr. Chandra Deshpandey, a 40-year materialsscience veteran whose resumé reads like a Silicon Valley textbook, Intel Capital portfolio, UCLA professorship, multiple startups, and more PhDs than most boards can dream of.

Their core? A patented, mechanochemically engineered process to produce high-purity GaN and AlGaN, minus the toxic sludge that usually comes with the territory. Wide bandgap semiconductors aren’t just better, they’re essential if we want to keep up with the power demands of AI data centers, EVs, defense systems, and next-gen telecom. Mivium’s process isn’t just cleaner. It’s scalable. Cost-effective. Built for real-world demand.

No facility yet, but plans are locked to build the first US-based GaN plant with a $50M capex target. That’s not a moonshot, that’s manufacturing muscle, aimed at turning patented theory into mass-produced substance. The market they’re walking into? $3.35B in 2023, projected to hit $26.83B by 2032. That’s not growth, that’s ignition.

This round, led by Equifund, takes their total funding to over $6.46 million. Pre-money valuation: $22.6 million. No revenue yet, but don’t let that fool you. This isn’t about cash flow today. It’s about controlling the upstream materials flow that powers the entire future of electronics.

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