Aledia has secured an €80M first tranche of its €120M D-round financing. The company will use the proceeds to complete its product development and create the first-of-its-kind, high-volume 3D micro LED manufacturing facility in the Grenoble area for an estimated capex of €40 million (excluding equipment).
“There is a major turning point coming in the $120 billion per year display market as micro LED technology starts to replace the traditional LCD and OLED technologies,’’ said Giorgio Anania, Aledia CEO and cofounder. “In addition to being more efficient and brighter than current alternatives, with better colors, and a faster refresh rate, these new displays will be competitively priced.”
“Clearly there is significant competition in this market, and this investment allows Aledia to accelerate substantially its development and establish world-class manufacturing capabilities,” Anania said. “We are delighted to welcome SPI to our shareholder base, and we are also proud that our largest strategic investors and development partners are all reinvesting in this financing.’’
“The display industry is a large strategic market of the future, and Aledia is making a very ambitious play to become a leader in this space,” said Magali Joëssel, SPI fund director at Bpifrance. “With an investment of over €200 million in equipment over the next five years and plans to grow to approximately 500 employees, Aledia’s location in the Grenoble area signals a commitment to establish a world-scale industrial manufacturing facility in France. Bpifrance is pleased to support Aledia in this exciting endeavor.’’
“In a world where mobile computing has become essential, the need has never been greater for displays which are energy efficient, high definition and readable in all settings – indoor and outdoor. Aledia’s nanowire Micro LED’s are a key enabling technology for this next-generation of mobile consumer devices,” said Marshall Smith, senior director materials management Intel at Intel Capital. “Intel Capital is pleased to be working with Aledia in helping it bring this technology to market.”
The Investment Fund Société de Projet Industriel (SPI), a fund managed by Bpifrance and underwritten by the French State as part of the Programme d’Investissements d’Avenir (PIA), is the lead investor in the round and is joined by the majority of the existing strategic investors, including Intel Capital.