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© imec Business | January 14, 2020

imec spin-off raises €4,5 million in funding

MICLEDI Microdisplays, the latest spin-off of imec, has raised EUR 4,5 million seed capital from imec.xpand, with participation of PMV and FIDIMEC.

The spin-off says that it will use the funding to develop microLED displays for next generation Augmented Reality (AR) glasses. MICLEDI’s vision aims 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 this 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 expertise 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. Today’s 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 a press release. 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 EUR 4.5 million seed investment from imec.xpand, PMV, and FIDIMEC. 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" says Luc Van den hove, president and CEO at imec. "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."
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November 26 2020 11:35 am V18.13.6-2