Building microdisplays for mobile near-to-eye viewing devices, France’s Microoled raises €21 million

Love it or hate it, want it or had it, AR/VR simply isn’t going away. Toss in the fact that Apple’s Vision Pro (again, love it or hate it or think it looks altogether creepy) has renewed interest, and Grenoble-based maker of microdisplays for mobile near-to-eye viewing devices, Microoled’s €21 million funding round seems to have arrived right on time.

Led by Jolt Capital with participation from Bpifrance via its Innovation Defense vehicle, alongside historical investors Cipio Partners and Ventech, Microoled (That’s micro oled, and not microooooole’d) aims to finance the development of the next range of full colour, high luminance OLED solutions, expand manufacturing capabilities in Grenoble, and grow an international sales team, specifically targeting the security segment. Solution finds problem.

According to a 2022 report by KBV Research, the global market for microdisplays designed for AR/VR use could reach $4.4 billion by 2027, a figure up 4x from numbers measured in 2020, with 10% of the total value captured by OLED technologies. Pair this with the information provided by CCS Insight that accounts for some 15 million units of AR smart glasses that could be shipped worldwide by 2027, and perhaps we’ve all been a bit too hard on the AR/VR market? Or is this the very definition of deeptech?

Since 2007, Microoled has been developing a range of core technologies, over 170 of which have been granted patents, that will support this potential market capture through close collaboration with neighbor CEA/Leti research centers. 

“We are very pleased with Jolt Capital and Bpifrance joining our cap table, and to see that our historical shareholders Cipio Partners and Ventech continue their support,” commented Microoled CEO Eric Marcellin-Dibon. “All of them understand deeptech and the stakes of sovereignty. Innovation is at the heart of our strategy, and this new funding will allow us to double down on our efforts to bring to market the most disruptive technologies in the field of AR.”