France-based 3D LED display technology developer Aledia completed a €30m ($37.4) series C round that included semiconductor producer Intel and home products retailer Ikea on Monday.
Ikea and Intel, which participated through its Intel Capital subsidiary, were joined by state-owned bank Bpifrance’s Ecotechnologies Fund, Braemar Energy Ventures, Demeter Partners, Sofinnova Partners and Supernova Invest.
Aledia is developing a manufacturing process that will use large-diameter silicon wafers to produce LED displays for mobile devices that could be brighter, more energy efficient and more affordable to make.
In addition to core markets such as laptops, smartphones and tablets, the company is also working on displays for virtual, augmented and mixed reality devices, as well as smartwatches. The series C capital will support LED technology development.
Giorgio Anania, Aledia’s co-founder, chairman and CEO, said: “This financing round and collaboration with Intel reflect this potential and underscores the interest that our 3D nanowire-on-silicon technology is getting in the mobile-display market and from leading global technology-investment firms.”
Gregory M. Bryant, general manager of Intel’s Client Computing Group, added: “Energy efficiency, display quality and cost are three critical characteristics of mobile consumer electronics displays, and we feel Aledia’s 3D LED technology, based on large-area silicon fabrication, can impact this space.”
Aledia has now raised approximately $81m in funding altogether, $31m of which came in a 2015 series B round backed by Ikea’s GreenTech fund, auto component maker Valeo, Bpifrance Ecotechnologies, Sofinnova Partners, Braemar Energy Ventures, Demeter and CEA Investissements.
Sofinnova Partners, Braemar Energy Ventures, Demeter Partners and CEA Investissement had previously supplied $12.8m for the company’s series A round in 2013.