- News
8 March 2018
VueReal raises $10.5m on initial closing of Series A funding for micro-LED display technologies
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Micro-LED display technology developer VueReal Inc of Waterloo, ON, Canada has announced the initial closing of its $10.5m Series A funding round led by the venture arm of a large Asian company and a leading North American vendor focused on startups with emerging technology.
VueReal is engineering electronic systems through the mass integration of high-efficiency nano/micro-devices into large-area substrates (e.g. displays, sensors, system on panel etc). It initially targets making micro-LED displays affordable for all applications (TV, laptop, smartphone, virtual/augmented reality, etc). The firm’s technology platform is based on the interplay of micro/nano-device processing, integration technologies and system design (hardware and software).
VueReal will use the new funding to accelerate the development of μ-LED technologies by expanding its team and launching its micro-device development and characterization center. The firm says that, due to interest from major industry partners, it is working to finalize the subsequent close of the Series A funding.
Industry analysts predict a scenario where the market for μ-LED displays could potentially reach 330 million units by 2025. However, development of such displays has been hindered by high material costs and low yield and throughput of μ-LED mass transfer technology.
“We are inspired by the confidence placed in us by our investors as VueReal drives high-performance, super low-power μ-LED displays that are cost competitive with other technologies used in smartphones and mid-to-large-size display applications,” says CEO & founder Dr Reza Chaji. “The significant cost reduction is the result of VueReal’s proprietary sub-10μm, high-efficiency μ-LEDs, along with our patented mass transfer process.”
VueReal also announces that it is collaborating with technology enablers including epitaxial deposition and semiconductor equipment maker Veeco Instruments Inc of Plainview, NY, USA. VueReal claims that, working with industry partners like Veeco, it has developed key technologies and proprietary processes that solve many of the issues associated with manufacturing μ-LEDs. “We look forward to continuing our joint development work using Veeco’s expertise to provide technical breakthroughs that advance the μ-LED display industry,” states Chaji.
“Veeco has consistently proven technical superiority especially in the development of high-quality red, green and blue (RGB) epitaxy to meet device efficiency, uniformity and yield requirements for μ-LEDs,” says Veeco’s chief technology officer Ajit Paranjpe Ph.D. “Veeco continues to take on tough technical challenges as we partner with developers like VueReal working on emerging technologies,” he adds. “Our collaboration will accelerate the adoption of micro-LED displays.”
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