Grenoble-based Microoled, a trailblazer in crafting microdisplays for immersive mobile viewing experiences, has just hit a major milestone by securing an impressive €21 million in a recent funding round. The timing couldn't be more perfect for the company as it positions itself to seize the burgeoning opportunity in the AR/VR market, fueled by the surging demand for vivid, high-brightness OLED solutions. This financial boost propels Microoled into a prime position to revolutionize the way we see and interact with the virtual world, bringing forth a new era of captivating visual experiences. The funding round, led by Jolt Capital with participation from Bpifrance, Cipio Partners, and Ventech, will enable Microoled to drive product development, expand manufacturing capabilities, and strengthen its international sales team, with a particular focus on the security segment.
The latest report by KBV Research reveals that the global market for microdisplays designed for AR/VR applications is projected to reach a staggering $4.4 billion by 2027, a fourfold increase from the figures reported in 2020. Of this value, 10% is expected to be captured by OLED technologies, making them a key driver of growth in the sector. Moreover, industry analysts at CCS Insight estimate that approximately 15 million units of AR smart glasses could be shipped worldwide by 2027. These numbers challenge the skepticism surrounding the AR/VR market and raise questions about the true potential of this technology.
Microoled has been at the forefront of microdisplay technology since 2007, investing in the development of a robust portfolio of core technologies. The company's dedication to innovation has resulted in the granting of over 170 patents, demonstrating its commitment to pushing the boundaries of near-to-eye viewing devices. Collaborating closely with renowned research centers like CEA/Leti, Microoled is well-positioned to leverage its expertise and deliver cutting-edge solutions that cater to the evolving needs of the market.
Microoled's recent funding success marks a significant milestone in its journey to revolutionize the AR/VR market. With €21 million in funding, the company is set to accelerate the development of full-color, high luminance OLED solutions. By expanding its manufacturing capabilities and strengthening its international sales team, Microoled aims to capture a significant share of the growing microdisplay market, with a strategic focus on the security segment. With an optimistic outlook for the AR/VR market backed by market projections and the company's impressive patent portfolio, Microoled is well-positioned to drive innovation and redefine the future of near-to-eye viewing devices.
“We are very pleased with Jolt Capital and Bpifrance joining our cap table, and to see that our historical shareholders Cipio Partners and Ventech continue their support,” said Microoled CEO Eric Marcellin-Dibon. “All of them understand deeptech and the stakes of sovereignty. Innovation is at the heart of our strategy, and this new funding will allow us to double down on our efforts to bring to market the most disruptive technologies in the field of AR.”
