Cambridge-based Porotech, which specializes in developing gallium nitride (GaN) materials, has announced that it has provided $ 20 million (approximately 17.6 million euros) in the Series A funding round.
The last round was held by Ameba Capital with the participation of the previous investor Speedinvest.
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Use of funds
The company says it is using these tools to accelerate global expansion and mass production of its unique micro-LED products.
Dr Tungtong Zhu, CEO and co-founder of Porotech, says: “This latest funding will accelerate our work to ensure that PoroGaN will stimulate the commercialization of XR glasses and a new wave of user interface innovation. This will help us continue our expansion plans to meet demand and continue to provide world-class services and products to our rapidly expanding customer and partner base. ”
What does it do?
Until now, the requirement to mix multiple material systems has complicated the production of full-color micro-LED displays, making end products expensive for mass use.
Founded in 2020, Porotech has developed a new class of porous gallium nitride (GaN) semiconductor materials called PoroGaN.
This will allow the company’s micro-LED products to deliver monochrome and full-color displays on a single system of indium-gallium nitride (InGaN) materials with the brightness, efficiency and resolution needed for high-quality image projection on a bright background.
Zhu says: “We have supplied the world’s first red micro-LEDs and displays based on InGaN and set up production of our first products – delivering some of the world’s largest names in display technology.”
The company is looking to keep up with the growing demand from its customers and partners in the $ 140 billion display market (approximately € 123 billion).
Porotech: What you need to know
The co-founders of Porotech are Dr. Tungton Zhu, Dr. Yingjun Liu and Professor Rachel Oliver. Porotech is a branch of the Cambridge Gallium Nitride Center at Cambridge University.
The company has focused on developing high-performance and energy-efficient GaN semiconductor compounds with a wide bandwidth to revolutionize the electronics industry.
Ameba Capital is a venture capital company founded in 2011, focusing on early and growing investments in the technology sectors. Ameba Capital currently manages several businesses and growth funds supported by global investors, including sovereign wealth funds, family offices and trust funds.
Arthur Chen, a partner at Ameba Capital, says: “Porotech is ready to change the global display market worth $ 140 billion by accelerating the mass production of its revolutionary microwave products. The fact that there are already industry leaders among its customers and partners suggests that Porotech’s breakthrough could change the game. ”
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