University of Sheffield spinout raises £5.25m for MicroLED technology
A University of Sheffield spin-out aiming to address a major bottleneck in MicroLED display manufacturing has raised £5.25 million in Seed funding.
MicroLED is widely thought to be the next major advancement in display technology, offering between two and five times higher brightness and two to four times greater efficiency than traditional displays.
However, volume adoption of microLED is currently limited due to a number of manufacturing challenges.
Sheffield-based Pixel-Flo has developed what it describes as a “proprietary fluidic self-assembly technology”, which it says is able to deliver the high-performance of MicroLED at radically reduced processing and material cost.
The company says its technology will allow MicroLED enabled products including smartwatches and TVs to be made available at mass market price points.
Speaking on the funding, Rick Smith, CEO and co-founder of Pixel-Flo, said: “This investment allows us to expand our team and demonstrate our unique technology on a commercial coating system, enabling partnership and evaluation by display manufacturing partners.”
Pixel-Flo was founded by Dr Smith with Dr Suneal Ghataora, and Simon Jones,.drawing on long-running LED research from the University of Sheffield's School of Electrical and Electronic Engineering, as well as Mr Jones's display-industry commercial experience.
The firm said the funding round will support its transition from laboratory development towards industrial scale-up.
Professor Sue Hartley, vice-president for research and innovation at the University of Sheffield, said: “Pixel-Flo represents the potential impact of the world class research taking place at the University of Sheffield and the importance of an innovation ecosystem backed by financial investment in helping to realise that potential.
“The company’s approach to addressing a critical bottleneck in industry together with its international growth ambitions are an inspiration to other spinout companies emerging from the North of England. I am excited to see the company grow following this new investment.”
The funding round was led by Northern Gritstone with additional investment from SCVC, the Parkwalk Northern Universities Venture Fund, and German investment firm, HTGF.
Last year, Pixel-Flo was also part of the NG Studios cohort, Northern Gritstone’s deeptech venture builder.
Duncan Johnson, CEO of Northern Gritstone, said: “Pixel-Flo is a great example of the deep-tech innovation with global ambitions emerging from the Northern Arc that Northern Gritstone strives to support.”