MICLEDI Microdisplays, spin-off of imec, raises €4.5 million for world's brightest AR display

MICLEDI Microdisplays has raised a €4.5 million seed round from imec.xpand, with participation from PMV and FIDIMEC. The startup is the latest spin-off of imec, the Belgian research and development hub for microelectronics. The funding will be used to develop microLED displays for next generation augmented reality (AR) glasses. Smart glasses are projected to replace the smartphone well within the next decade, but the technology isn't quite there yet. MICLEDI is on a mission to help make AR suitable for everyday personal use, namely with smart glasses that are small, lightweight, have a long battery life and a reasonable price. To get there, the startup is developing the world’s smallest and brightest displays, using imec’s new integration technology for microLED on 300mm wafers. MICLEDI’s displays are 100 times brighter than current commercial alternatives, claims co-founder Dr. Soeren Steudel. The Leuven-based company was founded by Dr. Steudel and Dr. Alexander Mityashin, both researchers from imec with expertise in display development. Sean Lord, an experienced executive in the semiconductor industry, joined the company as CEO. “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. Commenting on the decision to invest, Roald Borré, Head of Equity Investments at PMV, said: “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.”