Aledia, French Developer of Next-Generation microLED Displays For High-Volume Consumer Markets, Announces €80M Closing of Planned €120M Investment Round

Backing will be used to complete product development near Grenoble and create a new display manufacturing facility based on Aledia’s proprietary technology of 3D microLEDs.

For Immediate Release

October 7, 2020

ECHIROLLES, France (October 7, 2020) — Aledia, a French startup that is pioneering a disruptive technology for microLED displays, has closed an €80M first tranche of its €120M D-round financing. The company will use the proceeds to complete its product development and create the first-of-its-kind, high-volume 3D microLED manufacturing facility in the Grenoble area for an estimated capex of €40 million (excluding equipment). Spun out of CEA-Leti in 2012, Aledia uses its proprietary technology to develop LED chips for next-generation displays for laptops, tablets, smartphones, smartwatches, augmented-reality glasses and large TVs.

The Investment Fund Société de Projet Industriel (SPI), a fund managed by Bpifrance and underwritten by the French State as part of the Programme d’Investissements d’Avenir (PIA), is lead investor in the round and is joined by the majority of the existing strategic investors, including Intel Capital.

“There is a major turning point coming in the $120 billion per year display market as microLED technology starts to replace the traditional LCD and OLED technologies,” said Giorgio Anania, Aledia CEO and cofounder. “In addition to being more efficient and brighter than current alternatives, with better colors, and a faster refresh rate, these new displays will be competitively priced.”

He said Aledia is the only company targeting this market with a nanocrystal technology that uses very large-size silicon wafers (200-300mm in diameter) and with processes developed by the microelectronics industry, as opposed to the traditional technology of planar, 2D LEDs built on smaller, layered sapphire substrates of 100-150mm diameter. Aledia’s technology is protected by 197 patent families, making Aledia the leading French startup company in France in filed patents

“Clearly there is significant competition in this market, and this investment allows Aledia to accelerate substantially its development and establish world-class manufacturing capabilities,” Anania said. “We are delighted to welcome SPI to our shareholder base, and we are also proud that our largest strategic investors and development partners are all reinvesting in this financing.”

“The display industry is a large strategic market of the future, and Aledia is making a very ambitious play to become a leader in this space,” said Magali Joëssel, SPI fund director at Bpifrance. “With an investment of over €200 million in equipment over the next five years and plans to grow to approximately 500 employees, Aledia’s location in the Grenoble area signals a commitment to establish a world-scale industrial manufacturing facility in France. Bpifrance is pleased to support Aledia in this exciting endeavor.”

"In a world where mobile computing has become essential, the need has never been greater for displays which are energy efficient, high definition and readable in all settings — indoor and outdoor. Aledia’s nanowire MicroLEDs are a key enabling technology for this next-generation of mobile consumer devices," said Marshall Smith, senior director materials management Intel at Intel Capital. "Intel Capital is pleased to be working with Aledia in helping it bring this technology to market."

Aledia’s existing investors include Braemar Energy Ventures, Demeter Investment Partners, the Ecotechnologies fund of Bpifrance, Ingka Investments, Intel Capital, Sofinnova Ventures, Supernova Invest, TEL (Tokyo Electron), Valeo, and several large, additional technology companies.

The financing was managed by Ancoris Capital Partners of New York, with Orrick as legal advisers.

About Aledia

Aledia is a pioneering developer of next-generation LED displays based on its disruptive WireLED® 3D nanowire technology, which allows manufacturing of 3D LEDs on 8-inch (200mm) or larger silicon wafers in existing microelectronics foundries, and their straightforward integration with electronics. The company's 3D GaN-nanowires-on-silicon technology delivers increased brightness and more energy-efficient displays, at a cost point that is lower than that of conventional planar (2D) micro-LEDs. Aledia is based in Grenoble, France, and has subsidiaries in the US, Taiwan and Malaysia. Additional information is available at aledia.com.

For more information

France
EquiLibrE - Florence Dapoigny
+33 (0)6 60 49 83 95
florence.dapoigny@sfr.fr
U.S.
Sarah-Lyle Dampoux
+33 (0)6 74 93 23 47
sldampoux@mahoneylyle.com

About Braemar Energy Ventures

Braemar Energy Ventures is a venture capital firm focused on making investments in the energy technology sector. The firm's principals have invested in more than 60 companies in the sector and have more than 100 years of combined technical, operational and financial experience in energy and energy-related industries. Braemar partners with exceptional companies and management teams, in both alternative and traditional energy markets, which can contribute to a more profitable and efficient energy landscape through innovation and marketplace expertise. Additional information is available at www.braemarenergy.com.

For more information

Jacqueline Schofield
Prosek Partners
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Mobile: (508) 259-4474
jschofield@prosek.com