SemiSouth has now raised more than $50m of equity and over $30m of federal grants and contracts after Power Integrations', a US-based provider of high-voltage integrated circuits, investment.

Power Integrations, a US-based provider of high-voltage integrated circuits, has invested $30m in local peer SemiSouth Laboratories.

SemiSouth had previously raised more than $20m of equity and over $30m of federal grants and contracts.

Jeffrey Casady, co-founder and chief technology officer of SemiSouth, said: "Without our early investors, including the [US state-backed] Southern Appalachian Fund, [venture capital firm] Delta Capital, and several individual business leaders, and without an initial strategic investment from II-VI, we wouldn’t have gotten off the…