Porotech, a Cambridge-based company specialising in the development of Gallium Nitride (GaN) material technology, announced that it has secured $20M (approx €17.6M) in a Series A round of funding.
The latest round was led by Ameba Capital, with participation from its previous investor Speedinvest.
Fund utilisation
The company says it will use the funds to accelerate global expansion and mass production of its unique micro-LED products.
Dr. Tongtong Zhu, CEO and co-founder of Porotech, says, “This latest funding will accelerate our work to ensure that PoroGaN drives the commercialisation of XR glasses and the new wave of user interface innovation. It will help us to continue our expansion plans to meet demand and to continue to provide world-class service and products to our rapidly expanding customer and partner base.”