MicroED manufacturers Porotech secured roughly $20 million USD in a Series A funding round, enabling the firm to accelerate its global expansion, distribution, and production of its gallium nitride (GaN)-based materials and products and meet its massive global market demands.
The series A funding round was led by Ameba Capital and previous investor Speedinvest. The investments come after the firm launched as a spin-off from the University of Cambridge’s Department of Materials Science and Metallurgy.
Porotech CEO and Co-Founder Dr Tongtong Zhu, said,
“This latest funding will accelerate our work to ensure that PoroGaN drives the commercialisation of extended reality (XR) glasses and the new wave of user interface innovation. It will help us [at Porotech] 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 Series A Funding Group to Ameba Capital, said Porotech will “transform the $140 billion global display market as it accelerates mass production of its revolutionary micro-LED products.”
Chen added,
“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”
Additionally, the funding round will now allow Porotech to produce its powerful PoroGaN-based microLED products at a greatly reduced cost.
PoroGaN MicroLED
The Cambridge-based firm designed ‘PoroGaN’ as a unique semiconductor material for use in the construction of its microLED lenses for augmented, virtual, and mixed reality (AR/VR/MR) headsets.
The PoroGaN product stands out by delivering high-quality monochrome or full-colour displays when a user is in a poorly lit environment or an outdoor space. Porotech’s lenses ensure that users receive high-quality immersive visuals that include improved brightness, efficiency, and resolution.
According to the Cambridge-based firm, hardware vendors can integrate the PoroGaN brand micro-LEDs into various immersive wearables, smartphones, and TVs. The firm is already claiming “best-in-class performance” with its powerful PoroGaN product.
Previously, lens manufacturers would need to mix materials to design a full-colour display, leading to massive costs and production times.
Porotech’s GaN-based microLED lenses are far simpler to produce because of their “single material system,” allowing the firm to mass-produce and distribute its lenses to match rising market demand.
