MICLEDI Microdisplays, an imec spin-off, raises EUR 4,5M from imec.xpand, PMV, and FIDIMEC for the development of next generation displays for Augmented Reality (AR) glasses

MICLEDI Microdisplays, the latest spin-off of imec, announced that is has raised 4,5M euro seed capital from imec.xpand, with participation of PMV and FIDIMEC. The funding will be used to develop microLED displays for next generation Augmented Reality (AR) glasses.

MICLEDI’s vision is to enable AR for everyday personal use – smart glasses that are small, lightweight, with long battery life, and at reasonable cost. To make this happen, MICLEDI is developing the world smallest and brightest displays. The key innovation behind MICLEDI is the new integration technology for microLED on 300mm wafers developed in collaboration with imec.

MICLEDI Microdisplays was founded by Dr. Soeren Steudel and Dr. Alexander Mityashin, both researchers from imec with a deep know-how in the R&D field and display development. They are joined by Sean Lord, an experienced executive in the semiconductor industry, as CEO.

AR glasses may replace our smartphones in the future and display technology is a key enabler for such a transition. Display technologies cannot fulfil the specifications needed for next generation AR glasses. At MICLEDI we are tackling this challenge and have developed displays that are 100x brighter than commercial alternatives” – explains Soeren Steudel, co-founder of MICLEDI.

In order to implement the vision that future consumer AR devices will be powered by a tiny display developed in Leuven, the company has raised a 4.5M euro seed investment from imec.xpand, PMV, and FIDIMEC.

We are pleased to back a unique team. We look forward to working with them and to enable technology that will be at the core of future AR devices and will change how digital information is presented to consumers” – says Cyril Vančura, Partner at imec.xpand.

MICLEDI’s will develop its microLED technology and first prototypes on imec’s 300mm pilot-line infrastructure.

Hardware development takes courage, capital and time. We are proud of the entrepreneurship of our engineers to bring promising technology developments originating from our R&D, to the market”.

Based on an original concept launched, now more than 2 years ago, by the MICLEDI team, imec together with imec.xpand incubated this into a promising technology base and exciting business case. It leverages imecs extensive R&D in organic displays, 300mm integration and wafer-scale optics technologies.”, says Luc Van den hove, president and CEO at imec.

MICLEDI’s new generation displays for AR glasses fits in PMV’s strategy of supporting early stage technology with a largescale international potential, hence strengthening Flander’s position as a top region.” – Roald Borré, Head of Equity Investments at PMV.

About imec
Imec is a world research and innovation hub in nanoelectronics and digital technologies. The combination of our widely acclaimed leadership in microchip technology and profound software and ICT expertise is what makes us unique. By leveraging our world-class infrastructure and local and global ecosystem of partners across a multitude of industries, we create groundbreaking innovation in application domains such as healthcare, smart cities and mobility, logistics and manufacturing, energy and education.

As a trusted partner for companies, start-ups and universities we bring together more than 4,000 brilliant minds from over 97 nationalities. Imec is headquartered in Leuven, Belgium and has distributed R&D at a number of Flemish universities, in the Netherlands, Taiwan, USA, and offices in China, India and Japan. In 2018, imec’s revenue (P&L) totaled 583 million euro. Further information on imec can be found at www.imec-int.com.

Imec is a registered trademark for the activities of IMEC International (a legal entity set up under Belgian law as a “stichting van openbaar nut”), imec Belgium (IMEC vzw supported by the Government of Flanders), imec the Netherlands (Stichting IMEC Nederland, part of Holst Centre which is supported by the Dutch Government), imec Taiwan (IMEC Taiwan Co.), imec China (IMEC Microelectronics (Shanghai) Co), imec India (Imec India Private Limited) and imec Florida (IMEC USA nanoelectronics design center).

About imec.xpand
Imec.xpand is an early stage and growth fund with a game-changing approach to turn hardware driven nanotechnology innovation into successful global companies. The fund is independently managed by a team of entrepreneurs, seasoned venture capitalists and business experts and is targeting ambitious tech start-ups that meet all the criteria to become a successful, scalable venture with the potential to change the world and where imec knowledge, expertise and infrastructure can play a determining role in their success. For more information about imec.xpand, please visit www.imecxpand.com.

About PMV
PMV is a do and dare company that shapes the economic future of Flanders. PMV finances promising companies from the very start to growth and internationalization. PMV offers tailor-made financial solutions for every entrepreneur with a solid business plan and a strong management team, by providing venture capital, loans and guarantees. An experienced and highly motivated team of 125 professionals endeavors every day to achieve the goal of creating prosperity and well-being in FlandersPMV has portfolio of about EUR 1.3 billion in assets under management.

Source: https://www.imec-int.com/

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