Microoled, a manufacturer of OLED microdisplays based in Grenoble, France, raised EUR 21 million (~USD 23.4 million) in a funding round led by Jolt Capital, with participation from Bpifrance via its Innovation Defense Fund, Cipio Partners, and Ventech.

The company plans to use the funding to finance the development of its next range of full-color, high-luminance OLED solutions. Additionally, the funds will be used to expand manufacturing capabilities in Grenoble and to grow international sales teams in the security segment and the B2B ActiveLook platform model.

Microoled specializes in the design, production, and marketing of OLED microdisplays for near-eye applications such as outdoor optical equipment, night vision glasses, medical devices, and AR glasses. The company caters to consumer and recreational markets and industry and security sectors. Since 2007, Microoled has developed a wide range of core technologies derived from the semiconductor industry—protected by over 170 granted patents—from a close collaboration with neighbor CEA/Leti research centers.

Analyst QuickTake: This news follows the company’s previous EUR 8 million (~USD 8.9 million) funding round in September 2020 , focused on the development of smart glass applications. The larger funding round represents confidence in Microoled’s solutions backed by recent developments in the microdisplay field from LG , Mojo Vision , MIT , and Kopin .