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MicroLEDs could benefit as VueReal wins series C funding

04 Feb 2025

Canadian firm says $40.5 million round will help its partners integrate microLEDs in commercial production.

VueReal, a startup company developing a novel printing process that it believes can be applied to high-yielding microLED production, says it has “secured access” to $40.5 million in new funding.

The series C round, led by Export Development Canada (EDC), included participation from existing investors including Cycle Capital, BDC Capital’s Cleantech Practice, and TDK Ventures.

Waterloo, Ontario, based VueReal says that the cash will help scale its production capabilities and enhance its ecosystem, to support partners in achieving their goals of integrating microLEDs in commercial production.

AR microdisplays
While microLEDs, effectively micron-scale pixels of light-emitting semiconductors, have long been regarded as ideal for next-generation displays - and have been used by Samsung in a handful of ultra-high-end TV applications - the technicalities of manufacturing the devices with a sufficiently high-yielding process has so far eluded its proponents.

ams-Osram had previously been seen as the most likely company to change that situation, when it signed an agreement to provide Apple with microLEDs for a new generation of its smart watches.

However, that plan fell apart a year ago when Apple pulled out of the deal, leaving ams-Osram with a redundant microLED facility in Malaysia and a €700 million hole in its balance sheet.

MicroLEDs are still seen as a good fit for the tiny displays used in augmented reality (AR) glasses, but although several companies are now working towards mass production they are yet to make that transition.

A key challenge is that microLED chips must first be fabricated on compound semiconductor epiwafers before they are transferred to typically larger silicon wafers that provide electronic control. Achieving that with a fast, cost-effective and high-yielding process has proved difficult.

VueReal thinks it can help solve the problem. “The funding positions VueReal to bring transformative microLED and other micro semiconductor solutions to market at scale,” it announced.

‘Microsolid Printing’
VueReal claims that its “Microsolid Printing” technology will create “a clear path for cost-effective, high-volume microLED production” while addressing the critical transfer challenge with unprecedented efficiency, scalability, performance, and affordability.

“This technology is set to transform industries, including consumer electronics, automotive, and healthcare,” it boasts, with CEO Reza Chaji adding:

“This new capital infusion will enable us to scale the mass production of microLED lighting and displays while empowering our partners to enhance their production capabilities. By expanding the ecosystem, we aim to ensure the seamless integration of Microsolid Printing technology into production lines worldwide.”

While ams-Osram continues to explore options for the future of its Malaysia facility via a sale-and-leaseback deal, some of the smaller companies looking to make microLED microdisplays indicated at last week’s SPIE AR/VR/MR conference that they were well on the way to commercial production at scale.

US-based Mojo Vision said it was hopeful of launching several products by the end of this year, with CTO Mike Wiemer saying that the company had now produced its tiny displays, which incorporate blue gallium nitride (GaN) emitters with quantum-dot downconverters to produce green and red light, on full-size silicon wafers.

At the same event Lynch Wu from PlayNitride outlined the Taiwan company’s high-yielding approach using a die-to-die transfer process, saying that it would soon enter mass production.

And Tongtong Zhu, CEO of the University of Cambridge spin-out Porotech, said that microLEDs based on the firm’s porous GaN material could enter mass production by the summer.

Commenting on the VueReal support Lissa Bjerkelund from lead investor EDC said: “VueReal’s cutting-edge technology and commitment to establishing a world-class production platform are pivotal in unlocking the vast potential of microLED and other micro semiconductor innovations.”

Andrée-Lise Méthot from Cycle Capital added: “VueReal is transforming the lighting and display industry and creating a scalable, sustainable pathway for advanced manufacturing.”

LASEROPTIK GmbHChangchun Jiu Tian  Optoelectric Co.,Ltd.Omicron-Laserage Laserprodukte GmbHMad City Labs, Inc.ECOPTIKHÜBNER PhotonicsSacher Lasertechnik GmbH
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