Grenoble-based company Microoled has successfully secured €21 million ($23 million) in a recent funding round, led by Jolt Capital and the Innovation Defense Fund, managed by Bpifrance in collaboration with the French Defense Innovation Agency. The fundraising will support the development of Microoled’s next-generation full-color, high luminance OLED solutions, as well as the expansion of their manufacturing capabilities in Grenoble and the growth of international sales teams in the security segment and B2B ActiveLook platform model. Notably, existing investors Cipio Partners and Ventech (who previously provided €8 million in funding) also reinvested in this funding round.
Microoled is a manufacturer specializing in high-resolution, low-power OLED microdisplays. These displays are crucial components for emerging technologies such as augmented reality (AR) and virtual reality (VR) headsets. As the AR market continues to gain momentum, with new mixed-reality headsets expected to hit the shelves in 2024, the demand for microdisplays designed for AR/VR applications is projected to reach $4 billion by 2027, according to KBV Research. OLED technologies are anticipated to capture 10% of this market.
To meet the diverse requirements of “light AR” applications, Microoled offers a range of compact products varying in size from 0.2″ to 0.6″. These displays boast high resolution and impressively low power consumption, starting from as little as 1mW. Microoled’s product portfolio caters to both consumer and recreational markets, with offerings such as the ActiveLook head-up display module for real-time visual information in hands-free activities. Over the years, Microoled has amassed over 170 granted patents, ensuring protection for its innovations.
