Fidimec is a Belgium-based venture capital firm that offers investment and incubation services for seed stage startups.

Fidimec

PMV is a do and dare company that is shaping the future of the Flemish economy. It provides funding for promising companies' businesses, from the day they first open their doors, through their various growth stages and even on to operating internationally. Working with and for the government and other partners, PMV implements projects that are important for prosperity and well-being in Flanders. PMV is convinced that entrepreneurship is crucial for the development of a prosperous future for Flanders and everyone who lives there. It firmly believes that every promising enterprise project in Flanders needs to find funding – but also that every business needs to be profitable in order to be sustainable. Which is why PMV and the companies and projects in which it invests must be profitable in the end.

Imec.xpand is an independently managed, game-changing way to enable early-stage nano electronics-based innovation powered by imec, the world-leading R&D hub for nanoelectronics and digital technology.

imec.xpand

KBC Private Equity - the investment company of KBC Group - provides development capital and finances buy-outs to medium-sized companies in Belgium and in Central and Eastern Europe, KBC's home markets. Boasting an experienced team of 28 people, it has more than 60 active investments in portfolio with a market value in excess of EUR 400 million.  KBC Private Equity aims to become one of the leading private equity providers on KBC Group's home markets. As an active shareholder with a long-term perspective, KBC Private Equity is involved in taking strategic decisions and providing support to management teams.

Imec* is a world-leading independent research center in nanoelectronics and nanotechnology.   Imec is headquartered in Leuven, Belgium, and has offices in Belgium, the Netherlands, Taiwan, US, China and Japan.  Its staff of more than 1,650 people include over 550 industrial residents and guest researchers. In 2008, imec's revenue (P&L) was 270 million euro.  Imec's More Moore research targets semiconductor scaling for the 22nm technology node and beyond. With its More than Moore research, imec invents technology for nomadic embedded systems, wireless autonomous transducer solutions, biomedical electronics, photovoltaics, organic electronics and GaN power electronics.   Imec's research bridges the gap between the fundamental research at universities and R&D in the industry. It has unique processing and system know-how, intellectual property portfolio, state-of-the-art infrastructure, and a strong and worldwide network position. This makes imec a key partner for shaping the technology of the future.  *imec is a registered trademark for the activities of imec International (a legal entity set up under Belgian law as a ''stichting van openbaar nutâ€), imec Belgium (imec vzw supported by the Flemish Government), imec the Netherlands (Stichting imec Nederland, part of Holst Centre which is supported by the Dutch Government) and imec Taiwan (imec Taiwan Co.).

imec

SFPIM investment firm that invests in technology and infrastructure.

SFPIM

MICLEDI Microdisplays

MICLEDI Microdisplays is a fabless microLED display developer for the Augmented Reality (AR) market. Its technology is based on an innovative combination of III/V materials processing, 3D integration, and 300mm Si-based processing in conjunction with a proprietary ASIC to provide a self-contained, compact monolithic AR display with high image quality and power efficiency.

<div>MICLEDI Microdisplays is a fabless microLED display developer specialized for the AR market. Its technology is based on an innovative combination of III/V materials processing, 3D integration, and 300mm Si-based processing in conjunction with a proprietary ASIC to provide a self-contained, compact monolithic AR display with high image quality and power efficiency. The firm claims to provide customized solutions which can be tailored to particularly AR glass requirements, making it widely applicable for a range of AR glass solutions.&nbsp;</div>

Next-gen Displays

MICLEDI Microdisplays, a company spun out from Belgian R&amp;D center imec, is a fabless developer of microLED display modules for AR glasses. MICLEDI’s technology is based on a combination of III/V materials processing, 3D integration, and 300 mm silicon-based processing combined with a proprietary ASIC. Notably, the company claims that its wafer reconstitution procedure allows the low-cost mass production of microLED display modules.

Technologies bringing about a new reality

Extended Reality

Micledi Microdisplays Raises Series A Funding

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 MICLEDI Microdisplays is a fabless microLED display developer specialized for the AR market. Its technology is based on an innovative combination of III/V materials processing, 3D integration, and 300mm Si-based processing in conjunction with a proprietary ASIC to provide a self-contained, compact monolithic AR display with high image quality and power efficiency. The firm claims to provide customized solutions which can be tailored to particularly AR glass requirements, making it widely applicable for a range of AR glass solutions.&nbsp;
 
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 Develops high-resolution VR and AR headsets for professional use inlcuding for automotive design, training simulations and medical and healthcare. The firm also produces consumer versions of its headets for gaming and provides a list of partners to create content for its solution.
 
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Varjo

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 Creates high-resolution, wide field of view VR headsets. The firms product is currently in pre order.&nbsp;
 
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Pimax

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 Develops waveguide displays for AR glasses and headsets. The firm manufacturers lenses as well as smart glasses that are compatible with LED and LASER projector technologies.
 
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Dispelix

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 Creates energy-efficient place-and-play digital signage solutions based on e-paper technology. The firm also provides a workplace management system for meeting room booking displats for hybrid workplaces. The solutions are used by leading companies including Dell, Microsoft, Siemens, Amazon, and NASA.&nbsp;
 
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Visionect

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 Papercast is a UK-based developer of battery and solar powered e-paper displays specialized for digital signage for transportation including displays at bus stops, rail stations, airports, and highways. The firms displays are designed for both indoor or outdoor use as well as fixed or portable displays. The firm also provides a content management system for displaying both real time or static information.&nbsp;
 
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Papercast

Companies that develop displays with versatile form factors that are bendable/foldable

Companies that develop displays that can project 3D images in mid-air, without requiring any special glasses or viewing devices

Companies that develop displays that are designed to mimic the appearance of ink on paper

Companies that develop displays that can be integrated into AR/VR headsets or smart glasses. This also includes transparent displays that can display information while maintaining transparency

Companies that develop displays that are alternatives to more traditional LED/LCD technology. They cover a range of light-emitting technologies including OLED, QLED, and MicroLED

Companies that develop displays that can provide tactile or haptic feedback to users, simulating the sensation of touch

Companies that develop displays that are ideal for ultra-short throw (UST) projectors that require limited space and wide viewing angles

To use advanced printing technologies to manufacture display substrates and bring cost efficiencies to the process

To bring cost efficiencies to the manufacturing process

Immersive displays such as AR/VR headsets or smart glasses are used for creating immersive experiences

Enables the creation of flexible and foldable displays by allowing the placement of smart displays on a variety of new types of devices

Biodegradable as well as self-powered and energy-harvesting displays are emerging areas of display technology

Uses sophisticated printing technologies for producing advanced display substrates and for infusing new display technologies in a cost-efficient manner

MICLEDI Microdisplays, a company spun out from Belgian R&amp;D center imec, is a fabless developer of microLED display modules for AR glasses. MICLEDI’s technology is based on a combination of III/V materials processing, 3D integration, and 300 mm silicon-based processing combined with a proprietary ASIC. Notably, the company claims that its wafer reconstitution procedure allows the low-cost mass production of microLED display modules.The company sought to introduce full-color modules with active backplanes using quantum dot filtering in Q2 2024. The microLED displays would offer a display resolution between 2K-4K, 10 million nits of brightness, be optimized for the color spectrum, and have a low power consumption. Furthermore, MICLEDI planned to introduce full-color RGB by stacking individual red, green, and blue wafers in the future.Key customers and partnershipsIn January 2024, MICLEDI partnered with Kopin to design, develop, and manufacture microLED displays for AR experiences, capable of being used in high-brightness light conditions.Funding and financialsIn March 2024, MICLEDI raised USD 25 million in a Series A funding round, with participation from imec.xpand, PMV, and other investors. The funds were earmarked to expand its team, design and build an active backplane ASIC, and create fully functional microLED display modules for use in AR displays.

Interplay Learning (Interplay) provides on-demand, interactive, and hands-on simulation learning courses for skilled trades, including HVAC, plumbing, electrical, solar, and facilities maintenance, through VR, mobile, and desktop applications. The learning courses also include simulated walkthrough videos where experts lead users through procedure guides methodically, with knowledge testing features and additional learning material such as wiring diagrams, equations, sample system configs, and charts at the end of each lesson. The platform also enables managers to track user progress.The company operates a subscription-based model with monthly packages for individuals (USD 54) and teams (USD 229), alongside a custom plan for larger organizations.Key customers and partnershipsNotable customers include Tesla and Rheem Manufacturing. Interplay’s customer usage rose by 445% YoY in 2020. As of February 2021, the platform had over 2,000 customers and 110,000 users across the US.Funding and financialsIn its last funding round (February 2021), Interplay raised USD 18 million in Series B funding co-led by S3 Ventures and Owl Ventures, the world’s largest venture capital firm focused on education technology. As part of the deal, Managing Director of Owl Ventures, Ian Chiu, joined Interplay’s board. The funds were raised to expand its offering to new markets and to accelerate its vision to combine immersive learning experiences with a human connection.

Interplay Learning

Switzerland-based WayRay develops holographic AR technology and hardware for the automobile sector. Its technology is used in head-up displays (HUDs) that project images into a driver’s field of vision to assist with navigation. Although its initial focus was on developing HUDs that can be purchased and installed in any vehicle, it has since pivoted to producing embedded HUD systems (i.e., hardware built into vehicles). WayRay’s HUDs are considered to provide a wider field of vision and combine data (location and mapping information) with vision data to generate images by projecting a laser beam through a Picture Generating Unit (PGU) onto a Holographic Optical Element (HOE).&nbsp;In <a href="https://sp-edge.com/updates/18537">May 2023</a>, WayRay announced integration of its AR displays into Tesla Model 3's in Switzerland, with plans to follow shortly afterwards in the US. Previously, in September 2021 the company launched its deep reality system that replaces the traditional car dashboard. In addition, WayRay launched “The Holograktor” dubbed the first “metaverse on wheels”, which can be driven conventionally or using a remote control via a 5G and satellite connection (November 2021).&nbsp;The company’s founder and CEO, Vitaly Ponomarev, identified that its systems are more advanced, backed by more patents, and potentially 20x smaller than comparable devices in the market. WayRay’s HQ in Switzerland also acts as a product design and development hub, while its R&amp;D center and prototyping factory are based in Russia.&nbsp;Key customers and partnershipsThe company is backed by strategic investors such as luxury automaker Porsche, which highlighted the management’s expertise in space engineering, hardware, and software development as key reasons for its investment, Hyundai Motor Co., and Alibaba. It is also notable that these investors, particularly Hyundai, are looking at ways to potentially use WayRay’s technology to offer more services in the future. For instance, Hyundai believed that the technology could be used for smart cities and smart buildings, which are its new areas of interest.WayRay partnered with Karma Automotive, a producer of luxury electric vehicles, in December 2021 to support the implementation of its HUDs into their test fleet. Moreover, it partnered with a leader in designing and manufacturing specialty glass, AGP eGlass, in September 2021 to further proliferate its technology.&nbsp; Funding and financialsIt was reported in April 2021 that the company is considering a public listing at a USD 2 billion valuation via a SPAC, although no further updates on this have been announced as at January 2024.&nbsp;

WayRay

AmazeVR initially focused on developing VR technologies but pivoted to VR concerts in late 2019. The concerts are backed by proprietary 9K cameras and software that automate complex VR concert visual effects that run on more than 100 headsets simultaneously. Users join and hang out with other users as avatars while experiencing VR concerts. It intends to bring VR concerts by major artists to theaters and eventually, homes.AmazeVR rolled out its first commercial VR concert, which will feature 3x Grammy winner Megan Thee Stallion, in 2022. The artist is expected to tour select AMC Theaters across the US. It is also in the final stages of closing deals with its second and third artists. AmazeVR also revealed plans to release weekly content by 2024 in theaters and for at-home viewers.In <a href="https://sp-edge.com/updates/20145">July 2023</a>, AmazeVR launched its official AmazeVR Concerts app, featuring an exclusive VR concert from Swedish pop star, Zara Larsson. The app is available on major VR app stores, and the exclusive Zara Larsson VR concert can be accessed for a year at a launch price of USD 6.99. AmazeVR also produces and monetizes VR content on a subscription basis.As of August 2023, the company was in the process of producing and releasing mixed reality concerts by overlaying virtual elements onto live, real-world video.Funding and financialsThe company’s most recent funding was in <a href="https://sp-edge.com/updates/13338">September 2022</a>, when it raised USD 17 million in a Series B funding round led by Mirae Asset Capital. The fresh funds were allocated to expand partnerships with artists, artist management companies, labels, publishers, and agencies.

AmazeVR

Dispelix, based in Finland, designs and manufactures single-layer, full-color waveguide displays, a thin (about 1mm) transparent element that takes in a projected image and relays it to the eye, using a nanophotonics-based approach catering to AR applications (e.g., smart glasses). It uses laser beam scanning technology to render laser-sharp images with a gamut of color palettes, which are displayed using beam-combiner technology. Its patented and proprietary approach includes diffractive surface relief gratings, which are elements used for high-power laser applications, fabricated on high refractive index glass wafers that enhance field-of-view and image quality.The company had a total of more than 40 granted or pending patent families as of November 2021. Its product line, Dispelix DPX, includes Dispelix DPX - Ohut, Dispelix DPX - Selva, and Dispelix DPX - Sade with a varying degree of field of view, form factor, and weight. According to Co-Founder and CTO Juuso Olkkonen, its displays are the lightest and thinnest in the market.Key customers and partnerships1) Foxconn and Pegatron: to create reference designs for AR glasses based on its Selvä waveguide display (October 2023)&nbsp;2) VividQ: created a “waveguide combiner” which accurately displays variable-depth 3D content in a user’s environment (January 2023)3) ColorChip and Maradin: To further Light Beam Scanning (LBS) solutions for AR glasses (October 2022)4) Jade Bird Displays: To develop multiple reference designs for AR devices (June 2022)5) AAC Technologies: To improve waveguide displays for the AR and MR industry (March 2022)6) OQmented: for the development and commercialization of MEMS-based LBS technology (November 2021)7) Coretronic: To develop a range of AR optical module solutions (December 2020)8) Hoya Corporation: To improve quality of waveguide displays (November 2020)Funding and financialsIn its most recent funding round (November 2021), Dispelix raised USD 33 million in a Series B funding round co-led by Atlantic Bridge, CCB Trust, and Flashpoint with participation from Lifeline Ventures, VTT Ventures, and 3M Ventures. The funds were allocated to product development. It revealed that several OEM customers were slated to integrate its technology into their consumer offerings by 2023.

DigiLens is a developer of holographic waveguides, which is a clear, thin piece of glass or plastic, used for AR devices. In January 2023, the company launched ARGO, an XR smartglass designed for enterprise and industrial use, the first AR device to utilize Qualcomm’s SnapDragon XR2 platform. Other specifications included 6-degrees of freedom (6-DoF) tracking, a 30-degree field-of-view, spatial audio, a 48MP RGB camera, voice and gaze recognition, access to real-time data visualizations, and a 2,500-nits HD display.&nbsp;The company’s first product, the DigiLens Crystal was introduced in 2019, was a thin-film laser-etched photopolymer embedded with microscopic holograms of mirror-like optics. By projecting a micro display to one end of the lens and another set of optics working to guide the light wave toward the eye, this proved to be an ideal piece of hardware for AR devices, which are preferred with as little hardware as possible.&nbsp;It claims that its patented optical platform and photopolymer technology coupled with a holographic copy manufacturing process enable it to produce cheaper and more scalable solutions. In <a href="https://sp-edge.com/updates/17598">April 2023</a>, the company announced the launch of SRG+, a surface relief gratings product that improves upon its waveguide technology.The company generates revenue by licensing its technology across a range of industries including the automobile, enterprise, consumer, avionics, and military sectors. DigiLens also offers a white-label solution for automotive companies whereby it creates holographic waveguides for windshields that could offer in-cabin experiences for drivers.&nbsp;&nbsp; Key customers and partnershipsKey partnerships include that with1) Phantom Technologies: - Phantom Technology: To integrate Phantom's CASSI Spatial AI assistant into the DigiLens ARGO glasses, providing features such as spatial search, a contextual assistant, and task management using voice commands (October 2023)2) Wisear: To integrate its neural interface-powered earphones with the ARGO smart glasses (May 2023)3) Mojo Vision: To utilize Mojo Vision's micro-LED technology to build improved AR glasses (May 2023)4) Taqtile: To integrate the company's ARGO smart glasses with Taqtile's AR work platform, Manifest (May 2023)5) OMNIVISION: To develop new XR product offerings (January 2023)Other partnerships include that with OMNIVISION (January 2023), a leading global developer of semiconductor solutions to develop new XR product offerings. OMNIVISION’s liquid crystal on silicon (LCOS) panels allowed DigiLens to build LCOS/LED projectors optimized for its holographic waveguides. OMNIVISION's core camera technology provides DigiLens' devices with features such as visual odometry and six degrees of freedom.&nbsp;DigiLens also works with Taiwanese licensed waveguide manufacturer Young Optics, Chinese original design manufacturer and electronics supplier Malata, Korean display manufacturer Sekonix, international technology company Continental, Chinese optical elements manufacturer Crystal Optech, and Mitsubishi Chemical.&nbsp;Funding and financialsIn April 2022, DigiLens announced the second close of its Series D funding round (intiial close in November 2021) in which it raised USD 50 million at a valuation of USD 530 million. The funds were allocated for the development of DesignV1, its second-generation product.

DigiLens

Companies developing XR headsets and relevant sub-components (displays, sensors, and processors). Also includes complementary XR hardware (tracking devices, haptic vests, and gloves)

Companies offering engines that enable the development of AR/VR content, also includes companies offering capabilities to capture and create 3D images for immersive environments

Companies offering AR/VR solutions or toolkits for specific industry applications, including VR game developers

Companies offering location-based AR/VR experiences

AR/VR platforms offer remote assistance to field experts and headset manufacturers facilitate virtual work

Some solutions in the "content" segment are offered under a B2B SaaS model

Headsets and content segments provide the building blocks for the metaverse

AR, VR, and MR are the primary enabling technologies for the XR industry

<div>
 Micledi Microdisplays BV, a Belgium-based microLED startup, has raised approximately USD 25 million in a Series A funding round. Investors include imec.xpand, PMV, imec, KBC, and SFPIM, bringing the company's total funding to around USD 30 million.
 The funds will be used for team expansion, designing and building an active backplane ASIC, and creating fully functional microLED display modules for use in AR displays.
 Established in 2019, Micledi Microdisplays is a fabless developer of microLED display modules and was spun out from the Belgian R&amp;D center imec. The company's technology combines III/V materials processing, 3D integration, and 300 mm silicon-based processing with a proprietary ASIC. They plan to introduce full-color modules with active backplanes utilizing quantum dot filtering in the second quarter of 2024.
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Micledi raises USD 25 million in Series A funding to create microLED displays for AR glasses

XR and MEP (Q1 2024): An Apple-backed XR spatial computing surge; Disney’s USD 1.5 billion fuels Fortnite expansion

Next-gen displays: Illuminating new possibilities

Kopin

To develop advanced microLED displays for Augmented Reality, catering to defense, enterprise, consumer, and medical sectors.

MICLEDI Microdisplays

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