News: LEDs
7 May 2024
Kubos adds $2m investment to double red micro-LED efficiency for AR/VR displays
Micro-LED material technology company Kubos Semiconductors Ltd (which was spun out of the UK’s University of Cambridge in 2017) has raised $2m to accelerate development of its cubic-phase gallium nitride (GaN) technology, which is said to be able to double the efficiency of red micro-LEDs. This brings total funding to $5.5m and will enable Kubos to enter the micro-LED display market within three years through IP licensing. According to analyst Spherical Insights and Consulting, the global market for micro-LED displays will grow from $1.35bn in 2022 to $14.97bn by 2032. Kubos says that its technology can enable clearer, brighter, more efficient displays to be manufactured for augmented-reality and virtual-reality (AR/VR) applications.
Kubos secured support from three experienced veterans of the UK compound semiconductor industry and three strategic investors. Martin Lamb, Drew Nelson and Geoff Haynes have a combined tenure of over 100 years in compound semiconductor materials development. Strategic investors are the Development Bank of Wales, FOV Ventures, and S4C Digital Media Ltd.
“The strategic investor group that we have assembled brings vital insight into how the metaverse, digital content and AR/VR products drive display and micro-LED requirements,” says Kubos’ CEO Caroline O’Brien.
Martin Lamb, formerly CEO of Wafer Technology (acquired by IQE plc in 2000) and an angel investor with several successful exits, was instrumental in the formation of Kubos and an early investor and has guided and shaped the team. He has served as chairman since its inception and will continue in this role. Drew Nelson OBE, president of compound semiconductor epiwafer and substrate maker IQE plc of Cardiff, Wales, UK (having founded and grown the business before stepping down as CEO in January 2022) has invested in Kubos and joins the board of directors. Also participating in this investment round is GaN expert Geoff Haynes, who in 2008 co-founded GaN Systems (acquired by Infineon in 2023 for $830m) to address the power semiconductor market.
The Development Bank of Wales has a track record of supporting breakthrough technologies and compound semiconductor businesses. FOV Ventures is focussed on spatial computing, and S4C Digital Media plays a key role in the delivery of digital content to consumers. This investor group brings experience and knowledge that is said to touch on all aspects of the AR/VR opportunity that Kubos aims to exploit.
“Kubos’ proprietary technology has the potential to improve the user experience for lighting and displays and accelerate the adoption of micro-LEDs across a wide range of applications,” comments Dr Carl Griffiths, fund manager in the Technology Venture Investments team at the Development Bank. “We are proud to be working with this exciting company of highly acclaimed engineers and scientists, and to have helped them re-locate to Wales to make use of the compound semiconductor expertise and infrastructure in the region.”
Kubos’ gains £700,000 Innovate UK grant to develop 5%-efficient red micro-LEDs
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