VueReal announces Series B round of financing for its micro printing technology
The funding hopes to enable VueReal to expand its customer base, scale up its team and enhance its current facility.
Research & Development
Technology / IIoT
WATERLOO — On Apr. 18, VueReal, a company involved in micro printing technology announced the closing of a 14.4 million USD oversubscribed Series B round of financing led by Cycle Capital. The funding hopes to enable VueReal to expand its customer base, scale up its team and enhance its current facility.
Cycle Capital, an impact investor and leading cleantech venture capital investment platform, is joined by strategic investors TDK, a company involved in electronic solutions for the smart society, and Vitro, an NA glass manufacturer. Investment partners in the round also include Economic Development Canada and BDC Capital’s Cleantech Practice. The syndicate of investors join existing investors Samsung Ventures, LG Electronics Inc. and Veeco Instruments Inc.
The new round of funding will accelerate the commercialization of VueReal’s energy efficient micro printing platform and will try and offer customers a broader range of custom display products with comprehensive use cases for AR, smartwatches, smartphones, automotive, signage and transparent displays.
“VueReal’s transfer technology platform is a key enabler for the adoption of next generation MicroLED displays. It is powering a new wave of displays for everyday consumer products that offer better performance while reducing their energy consumption profile. We look forward to supporting the team along their journey and collaborate with great investors including TDK, Vitro, BDC and EDC along the way,” said Andrée-Lise Méthot, Founder & Managing Partner at Cycle Capital.
“With our innovative technology and accelerating commercial traction, VueReal is set for rapid growth. In addition to the funding, this Series B Round brings significant strategic partnerships and experience to VueReal which is crucial for the next stage of growth of the company.” said Reza Chaji, CEO of VueReal.
VueReal’s proprietary technology uses MicroLED displays to offer a scalable solution that reportedly achieves significantly increased yield and throughput. Until now, the MicroLED display market has been limited to either small or expensive large displays, and in AR applications, the displays have been limited to monochrome or low pixel resolution.
“VueReal’s technology enables a wide range of applications from compact microdisplays, to cost-competitive high-volume consumer displays, to fully customized displays. VueReal’s microprinting solution has been validated by several major companies – including leaders in automotive and consumer electronics as well as major equipment vendors.” said Reza Chaji, CEO of VueReal.