Last month France-based 3D GaN LED developer Aledia announced that it plans to establish a 140 million euros LED production fab in Champagnier, near Grenoble in France. Today the company announced that it closed â¬80 million in funding, out of the planned â¬120 million Series D investment round.
The lead investor in this round is the Investment Fund SociÃ©tÃ© de Projet Industriel (SPI), a fund managed by Bpifrance. SPI is joined by the majority of the existing strategic investors, including Intel Capital.
Aledia plans to start LED production in the new facility by 2022 - and by the company will also finalize its microdisplay production process and will start offering microLED microdisplays. Aledia commercializes a microLED production process (originally developed at Leti) , based on a unique 3D architecture using GaN-on-silicon nanowires (branded as WireLED).
In the past Aledia used microLED R&D equipment made by Veeco, it is likely that Veeco will also provide the company with the mass production equipment for the new production line. In 2018 Aledia raised $36 million in its Series-C Financing round.