A little more than a year after closing a 5-million euro funding round, Micledi Microdisplays has hauled in another big boost of cash. The Imec spinoff has revealed that it has raked in a new investment of seven million euros to accelerate and commercialize microLED displays for augmented reality (AR) glasses. This time around, the investment came from Belgium’s sovereign wealth fund FPIM and the VC KBC Focus Fund, which invests in advanced technologies in the semicon, nanotech and IoT domains.
With these new funds, Micledi will look to transition from the pilot line technology development to product design and subsequently to the manufacturing phase. More specifically, the Leuven-based startup is looking to demonstrate native RGB microLED displays based on its proprietary reconstitution approach for defect-free, foundry-compatible III-V semiconductors on 300 mm wafers, as well as prepare technology IP for foundry transfer and manufacturing. Finally, the company is seeking to launch the product development phase, which includes system-level ASIC work with AR companies, and qualification/test activities.
“We laid the foundation for this important milestone in 2020 thanks to the vision of our team, Imec’s technology and the trust, guidance and support of our seed investors Imec.xpand, PMV, and Fidimec,” says Sean Lord, CEO of Micledi. “This new investment will allow us to accelerate towards future microLED displays that will enable the much-anticipated and exciting era of consumer augmented reality.”