MICROOLED raises 21 million euros to develop augmented reality technology

July 13, 2019 – Manufacturer of high-resolution, low-power organic light-emitting diode (OLED) microdisplaysMICROOLEDAnnounced this week, it completed a €21 million round of financing led by private equity firm Jolt Capital, with participation from French sovereign wealth fund Bpifrance through its innovative defense arm, as well as historical investors Cipio Partners and Ventech.

MICROOLED said this latest round of financing will give the company the funds to support the development of its next full-color, high-brightness OLED solution, expand its manufacturing capabilities in Grenoble, France, and expand in the security field and B2B ActiveLook platform Model international sales team.

"We are pleased to see Jolt Capital and Bpifrance join our shareholder list, and to see our historical shareholders Cipio Partners and Ventech continue to support us. They both understand the importance of deep tech and sovereignty," MICROOLED CEO Eric Marcel Dupont said, "Innovation is at the core of our strategy, and this new round of financing will allow us to focus even more on bringing the most disruptive augmented reality technology on the market to market."

According to MICROOLED, OLED microdisplays offer superior overall performance compared to classic LED displays, and OLEDs are increasingly used in see-through near-eye displays (NED) for camera viewfinders. OLEDs have applications in the augmented reality (AR) smart glasses market, as these devices require embedded microdisplays that can provide high brightness and contrast, while also requiring ultra-thin batteries for very low power consumption.

MICROOLED stated that the company is one of the few international players capable of designing and manufacturing such low-energy OLED microdisplays and is ready to meet various market demands.

One example of the company's offering to the consumer entertainment market is its "ActiveLook" head-mounted display module, which can be embedded into glasses to provide real-time visual information for a variety of hands-free activities, such as sports. The module can also be used in industrial or security fields.

Grenoble-based MICROOLED has, since 2007, developed a range of core technologies from the semiconductor industry, protected by more than 170 authorized patents, in close collaboration with the neighboring CEA/Leti research centre. MICROOLED says it is perfectly positioned to become the leader in wearable, ultra-lightweight headsets. To meet the various needs of "lightweight AR" applications, the company offers a compact product series ranging in size from 0.2 inches to 0.6 inches, featuring high resolution and power consumption as low as 1mW.

Pierre Garnier, head of Jolt Capital, said of the financing: "MICROOLED is the typical growth deep technology company we are looking for in Jolt. With patented core technology in the semiconductor field and real potential to build manufacturing capabilities in Europe, A range of rapidly growing B2B markets, and a powerful yet energy-efficient product. We are excited to add them to our portfolio and look forward to helping them lead the world in lightweight AR.”

For more information about MICROOLED and its display technology in the field of augmented reality, including its ActiveLook module, please visit the company's official website.

Image/Video Source: MICROOLED/ActiveLook/YouTube