VueReal Announces Oversubscribed $14M Series B Funding Round

Led by Cycle Capital, the round includes strategic investor TDK Ventures and Vitro

VueReal setup

VueReal setup

WATERLOO, Ont., April 18, 2022 (GLOBE NEWSWIRE) — VueReal, a leader in microprinting technology, today announced it has closed an oversubscribed $14.4 million Series B financing round led by Cycle Capital. The funding will allow VueReal to expand its customer base, expand its team and enhance its current facility.

Cycle Capital, an impact investor and a leading cleantech venture capital investment platform, is backed by strategic investors TDK, the global leader in electronic solutions for the intelligent society, and Vitro, the leading producer of glass in North America. Investment partners in the round also include Economic Development Canada and BDC Capital’s Cleantech Practice. The consortium of investors joins existing investors Samsung Ventures, LG Electronics Inc. and Veeco Instruments Inc.

The new round of funding will accelerate the commercialization of VueReal’s energy-efficient microprinting platform and provide customers with a broader range of custom display products with rich use cases for AR, smartwatches, smartphones, automobiles, signage and transparent displays.

“VueReal’s transfer technology platform is a key enabler for the adoption of next-generation MicroLED displays. It is powering a new wave of displays for everyday consumer products that offer better performance while reducing their energy consumption profile. We look forward to supporting the team on the road, working alongside great investors such as TDK, Vitro, BDC and EDC” – Andrée-Lise Méthot, Founder and Managing Partner at Cycle Capital.

“With our innovative technology and accelerating commercial traction, VueReal is poised for rapid growth. In addition to the funding, this Series B round brings significant strategic partnerships and experience to VueReal, which is critical to the company’s next phase of growth.” – Reza Chaji, CEO of VueReal.

“The superior performance and low power consumption of MicroLEDs are the holy grail of the display industry. However, the challenging assembly process has been the main limiting factor for many years. VueReal’s micro printing solution is a true game changer and we are very excited to support their team to take the micro LED industry to the next level.” – Tina Tosukhowong, Investment Director at TDK Ventures.

“This new Vitro-VueReal partnership will allow us to unlock new functionalities with devices integrated into our residential, architectural and automotive glass. This is a new platform that includes display products and sensors that can enhance human interaction with our glass products. This fully enhanced experience will create value for consumers interacting with our glass through touch, visualization, security and protection from digitally enhanced glass products.” – Martin Bracamonte, VP Marketing & Innovation at Vitro Architectural.

“Micro-LED represents an important step in the evolution of display technology given its lower power consumption and next-generation applications. We believe VueReal’s technology is poised to take micro-LED to a whole new commercial scale, and look forward to supporting the company with other like-minded partners to help them reach their full potential.” – Jahangir Bhatti, director of BDC Capital’s cleantech practice.

VueReal’s proprietary technology unlocks the potential of MicroLED displays by providing a scalable solution that delivers significantly more yield and throughput. Until now, the MicroLED display market has been limited to either small or expensive large displays, and in AR applications, displays have been limited to monochrome or low pixel resolution. VueReal’s micro-printing platform can expand the use of MicroLED displays to broader applications by improving cost, performance and production throughput.

“VueReal’s technology enables a wide range of applications, from compact microdisplays to low-cost, high-volume consumer displays and fully customized displays. VueReal’s microprinting solution has been validated by several major companies – including leaders in automotive and consumer electronics, as well as major device manufacturers .” – Reza Chaji, CEO of VueReal.

About VueReal

VueReal is shaping the next electronics revolution by developing and commercializing technology platforms that enable efficient, convenient and scalable production and integration of micro and nano devices. VueReal’s solutions promise to turn the potential of micro-LED technology into reality by enabling lifelike displays powered by next-generation smartphones, TVs, laptops, virtual/augmented reality systems, heads-up displays , instrument panels, infotainment systems, and wearables.

For investment, collaboration, partnership and product inquiries, please contact VueReal at info@vuereal.com and visit www.vuereal.com.

About Cycle Capital

Cycle Capital is an impact investor and leading private cleantech venture capital investment platform with $0.6 billion in assets under management. With offices in Montreal, Toronto and Qingdao, Mainland China, and a presence in New York and Seattle, Cycle Capital invests across North America and China in growing and commercialized companies that have developed technologies aimed at reducing greenhouse gas emissions and conserving resources and processes optimize. Cycle Capital is the founder of Cycle Momentum Accelerator and Canadian co-chair of the Beyond the Billion initiative – an international campaign to mobilize a consortium of investors supporting female founders.

About TDK Ventures

TDK Ventures Inc. invests in startups to foster innovation in materials science, energy/energy and related fields that are typically underrepresented in venture capital portfolios. Founded in 2019 as a wholly owned subsidiary of TDK Corporation, the corporate venture has a vision to drive digital and energy transformation in segments such as health and wellness, next-generation transportation, robotics and industry, mixed reality and the broader IoT. IIoT markets. TDK Ventures will co-invest and support promising portfolio companies by providing technical expertise and access to the global markets in which TDK operates. Interested startups or investment partners can contact TDK Ventures: www.tdk-ventures.com or contact@tdk-ventures.com.

About Vitro

Vitro is a leading glass manufacturer in North America and one of the world’s largest companies in its industry, backed by more than 100 years of experience. Founded in 1909 in Monterrey, Mexico, the company has offices around the world offering quality products and reliable services to meet the needs of two businesses: flat glass and glass containers. Vitro companies manufacture, process, distribute and market a wide range of glass items that are part of the daily lives of millions of people. Vitro offers solutions for multiple markets including architecture and automotive as well as cosmetics, pharmaceuticals and toiletries. The company is also a supplier of chemical products and raw materials, machinery, molds and equipment for industrial use. As a socially responsible company, Vitro works on several initiatives aligned with its sustainability model, aimed at making a positive impact on the economic, social and environmental aspects relevant to its stakeholders, within a responsible corporate governance framework. For more information, visit: http://www.vitro.com

About BDC Capital

BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion in assets under management, BDC Capital serves as a strategic partner to the country’s most innovative companies. It offers companies a full spectrum of capital, from seed investments to growth capital, and supports Canadian entrepreneurs with the ambition to differentiate themselves on the world stage. Visit bdc.ca/capital.

Related Images

Figure 1: VueReal setup

The VueReal facility is capable of manufacturing micro-LEDs and printing them into substrates for the manufacture of display products.

This content was distributed via Newswire.com’s press release distribution service.

attachment

Leave a Comment