Porotech secures a $ 20 million Series A investment
Funding to accelerate global expansion and mass production of unique micro-LED products
February 22, 2022 – Pioneer of microdisplay technology Porotech secured a $ 20 million Series A investment to accelerate the global expansion and mass production of its unique micro-LED products. The funding is designed to ensure that the company keeps pace with the growing demand from its leading global customers and partners in the $ 140 billion display market.
A multinational electronics giant is among the participants in the Series A funding round, led by Ameba Capital and which includes former investor Speedinvest.
Porotech has redefined what’s possible by creating a new class of porous gallium nitride (GaN) semiconductor material called PoroGaN. The breakthrough enables the company’s micro-LED products to deliver monochrome and color displays on a single system of indium gallium nitride (InGaN) material, with the brightness, efficiency and resolution required for high-quality image projection. quality on bright backgrounds, even outdoors in daylight. The company’s red micro-LED product is already achieving best-in-class performance.
Micro-LED displays will play a pivotal role in the next generation of TVs, wearables and smartphones. And GaN-based material technology is widely regarded as the only technology that can provide displays bright enough and efficient to meet the requirements of extended reality (XR) displays involving virtual reality (VR), augmented reality (AR). and / or mixed reality (SIG).
So far, the need to mix multiple material systems has complicated the production of color micro LED displays, making the end products prohibitive for mass market applications. Porotech’s use of a mono-material system is a significant leap forward that opens the door to the mass production of micro-LED displays.
“Porotech’s progress during its seed phase has been absolutely stunning, both technically and commercially,” said Dr. Tongtong Zhu, CEO and co-founder of Porotech. “We have delivered the world’s first InGaN-based micro-LEDs and red displays and have started manufacturing our first products, shipped to some of the biggest global names in display technology.
“This latest funding will accelerate our work to ensure PoroGaN leads the commercialization of XR eyewear and the new wave of user interface innovation. It will help us continue our expansion plans to meet demand and continue to provide world-class services and products to our rapidly expanding customer and partner base. ”
Arthur Chen, partner of Ameba Capital, said:
“Porotech is poised to transform the global $ 140 billion display market by accelerating the mass production of its revolutionary micro-LED products. The fact that it already has industry leaders among its customers and partners is a testament to the revolutionary potential of Porotech’s breakthrough. “
Notes to editors
Porotech is a developer of gallium nitride (GaN) materials technology and a spin-out of the Cambridge Center for Gallium Nitride at the University of Cambridge. Founded in 2020, the company has focused on developing high-performance, energy-efficient broadband compound GaN semiconductors by applying cutting-edge materials technologies and solutions to unlock the full potential of GaN to revolutionize the electronics industry. For more information visit: www.porotech.co.uk
Capital Amoeba is a venture capital firm founded in 2011, focused on early and growth investments in the technology sectors. Ameba Capital has accumulated in-depth knowledge and a successful track record of partnering with entrepreneurs with strong adaptability and agility. Today, Ameba Capital manages various venture and growth funds backed by global investors, including sovereign wealth funds, family offices and funds of funds. For more information visit: www.amebacapital.com
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Source link Poro Technologies (Porotech) Secures £ 14.7m Series A Investment Led by Ameba Capital – UK Technology Investment News