MicroLED developer VueReal announced that it was awarded CAD$10.5 million (USD$7.7 million) in government support to scale up its micropixel fabrication and printing solutions. Vuereal will receive the funds from Sustainable Development Technology Canada (SDTC) and InvestOntario.
VueReal says that this funding will be part of a CAD$40 million production line facility project, that will employ 75 full permanent jobs in Waterloo, Canada.
VueReal says that the new financing round will also enable it to offer a broader range of custom display products, for AR, smartwatches, smartphones, automotive, signage and transparent displays. Last year VueReal demonstrated high-brightness and high-transmittance transparent microLED displays which it is now offering to customers.
In February 2020 we posted an interview with VueReal's CEO. On December 2020 the company announced that its patented flipchip structure demonstrated higher yields and lower costs compared to standard vertical LED process. In 2018 VueReal closed its $10.5 million Series A funding round. In 2022, VueReal raised $14.4 million in its Series B funding round.