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.”
What does it do?
Up until now, the requirement to mix multiple material systems has complicated the manufacture of full-colour micro-LED displays, making final products expensive for mass-market applications.
Founded in 2020, Porotech has developed a new class of porous gallium nitride (GaN) semiconductor material called PoroGaN.
This will enable the company’s micro-LED products to deliver monochrome and full-colour displays on a single indium gallium nitride (InGaN) material system, with the brightness, efficiency and resolution required for high-quality image projection against bright backgrounds.
Zhu says, “We have delivered the world’s first InGaN-based red micro-LEDs and displays and have set up production of our first products – shipping to some of the biggest global names in display technology.”
The company aims to keep pace with growing demand from its customers and partners in the $140B (approx €123B) display market.
Porotech: What you need to know
Co-founded by Dr. Tongtong Zhu, Dr. Yingjun Liu and Prof. Rachel Oliver, Porotech is a spin-out from the Cambridge Centre for Gallium Nitride at the University of Cambridge.
The company has been focusing on the development of high-performance and energy-efficient wide-bandgap compound GaN semiconductors to revolutionise the electronics industry.
Investor
Ameba Capital is a venture capital firm established in 2011, focusing on early and growth investments within technology sectors. Currently, Ameba Capital manages several ventures and growth funds supported by global investors including sovereign wealth funds, family offices and funds of funds.
Arthur Chen, a partner at Ameba Capital, says, “Porotech is poised to transform the $140B global display market as it accelerates mass production of its revolutionary micro-LED products. The fact that it already has industry leaders among its clients and partners is a testament to the game-changing potential of Porotech’s breakthrough.”
