Aledia, a Grenoble, France-based developer and manufacturer of next-generation 3D LEDs based on its Gallium-Nitride-on-Silicon platform, closed up to €28.4m (approximately $31m) in Series B financing.
Backers included Valeo, IKEA GreenTech AB, the Ecotechnologies fund of Bpifrance, and existing investors Sofinnova Partners, Braemar Energy Ventures, Demeter Partners and CEAi/ATi.
The company intends to use the funds for the execution of development and supply contracts with major LED buyers.
Led by Giorgio Anania, CEO, chairman and co-founder, Aledia is developing a new generation of LEDs that are manufactured on large-diameter silicon wafers (200mm or 8-inch) which promise to be cheaper than traditional 2D LEDs and that allow for integration of electronics into the LED. The company is also working on innovative displays.