Grenoble, France-based MICROOLED, a manufacturer of high resolution, low power consumption OLED microdisplays, announced on Wednesday that it has raised €21M in funding led by Jolt Capital.
Additionally, French sovereign wealth fund Bpifrance, via its Innovation Defense vehicle, alongside both historical investors, Cipio Partners, and Ventech, participated in this round. To date, the company has secured €25M in funding.
The French company says it will use the capital to finance the development of the next range of full-colour, high-luminance OLED solutions, expand its manufacturing capabilities in Grenoble and grow international sales teams in the security segment and the B2B ActiveLook platform model.
“Innovation is at the heart of our strategy, and this new funding will allow us to double down on our efforts to bring it to market the most disruptive technologies in AR,” says Eric Marcellin-Dibon, CEO of MICROOLED.