VueReal Raises $10.5 Million on Initial Closing of Series A Funding for Micro-LED Display Technologies
Also Leverages Veeco's Technology Expertise to Accelerate Micro-LED Display Adoption
WATERLOO, Ontario, March 6, 2018 (Newswire.com) - VueReal Inc., a developer of key technologies for micro-LED displays, announced today the initial closing of its $10.5 million (USD) Series A funding led by the venture arm of a large Asian company and a leading North American vendor focused on startups with emerging technology. VueReal will use the funding to accelerate the development of micro-LED technologies by expanding its team and launching its advanced micro-device development and characterization center. Due to the high interest from major industry partners, VueReal is currently working to finalize the subsequent close of the Series A funding.
Innovators in display technology are focusing on the next big technological shift - micro-LED. Industry analysts predict an optimistic future scenario where the market for micro-LED displays could potentially reach 330 million units by 2025. This optimism is fueled by the promise of micro-LED technology (sub-100 micrometer inorganic LEDs) which is considered the critical enabler to achieving the ultimate display. However, development of such displays has been hindered by high material costs and low yield and throughput of micro-LED mass transfer technology.
“We are inspired by the confidence placed in us by our investors as VueReal drives high-performance, super low-power micro-LED displays that are cost competitive with other technologies used in smartphones and mid-to-large-size display applications,” said Reza Chaji, Ph.D., CEO and founder of VueReal. “The significant cost reduction is the result of VueReal’s proprietary sub-10 micrometer, high-efficiency micro-LEDs, along with our patented mass transfer process.”
VueReal also announced it is collaborating with technology enablers including Veeco Instruments Inc., a leading innovator of epitaxy tools and semiconductor equipment. VueReal, working with industry partners like Veeco, has developed key technologies and proprietary processes that solve many of the issues associated with manufacturing today’s micro-LEDs to deliver tomorrow’s ultimate displays. “On the technology front, we look forward to continuing our joint development work using Veeco’s expertise to provide technical breakthroughs that advance the micro-LED display industry,” added Dr. 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 micro-LEDs,” explained Ajit Paranjpe, Ph.D., chief technology officer, Veeco Instruments Inc. “Veeco continues to take on tough technical challenges as we partner with developers like VueReal working on emerging technologies. We are excited that our collaboration will accelerate the adoption of micro-LED displays.”
About VueReal Inc.
VueReal is engineering the next electronic systems by mass integration of high-efficiency nano/micro-devices into large-area substrates (e.g., displays, sensors, system on panel, and more). We have started by making the true-life experience of micro-LED displays affordable for all applications (TV, laptop, smartphone, virtual/augmented reality, etc.). VueReal technology platform is based on the interplay of cutting-edge micro/nano-device processing, sophisticated integration technologies and advanced system design (hardware and software). For inquiries regarding investment, collaboration, partnership, products and the company, please contact VueReal at firstname.lastname@example.org.
Reza Chaji, Ph.D.