Porotech raises $20m for microLED production

Porotech raises $20m for microLED production

Business news |
By Nick Flaherty

With a number of augmented reality headsets due to launch this year, UK microdisplay developer Porotech has raised $20m for mass production of its microLED devices.

Porotech has created a new class of porous gallium nitride (GaN) semiconductor material called PoroGaN. This enabled licroLEd devise with monochrome and full-colour displays on a single indium gallium nitride (InGaN) material system. This single material system is a key step to cost effective manufacturing of devices with the brightness, efficiency and resolution required for high-quality image projection against bright backgrounds, including outdoors in daylight. The company’s red micro-LED product is already achieving best-in-class performance.

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The Series A round for the spin-out from the Cambridge Centre for Gallium Nitride at the University of Cambridge was led by Ameba Capital and includes previous investor Speedinvest. It already has a deal with a Chinese volume producer of microdisplays, Jade Bird, following a £3m seed round.

“Porotech’s progress during its seed phase has been absolutely staggering – both technically and commercially,” said Porotech CEO and co-founder Dr Tongtong Zhu. “We have delivered the world’s first InGaN-based red micro-LEDs and displays and have set up production of our first products – shipping to some of the biggest global names in display technology.

“This latest funding will accelerate our work to ensure that PoroGaN drives the commercialisation of XR glasses and the new wave of user interface innovation. It will help us to continue our expansion plans to meet demand and to continue to provide world-class service and products to our rapidly expanding customer and partner base.”

Arthur Chen, a partner at Ameba Capital, said: “Porotech is poised to transform the $140 billion global display market as it accelerates mass production of its revolutionary micro-LED products. The fact that it already has industry leaders among its clients and partners is a testament to the game-changing potential of Porotech’s breakthrough.”

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