Microprinting Technology Company VueReal Closes $14.4M Series B Funding Round
Canada Economic Development, BDC Capital’s Cleantech practice invested in the round.
Waterloo-headquartered VueReal raised C$18.1 million (US$14.4 million) in what the microprinting technology company described as an oversubscribed Series B round.
The funding was led by cleantech investor Cycle Capital, with participation from Japanese multinational electronics company TDK and Mexican glassmaker Vitro.
“This is a new platform that includes display products and sensors that can increase human interaction with our glass products.”
– Martin Bracamonte
Investment partners in the round also include Canada Economic Development and the cleantech practice of BDC Capital, joining existing investors Samsung Ventures, LG Electronics Inc. and Veeco Instruments Inc.
Founded in 2016, VueReal develops technology designed to enable energy-efficient production and integration of micro and nano-devices. The company says its solutions are designed to enable the real displays needed for the next generation of smartphones, televisions, laptops, virtual and augmented reality systems, heads-up displays, instrument panels, infotainment systems and wearable devices.
According to Reza Chaji, CEO of VueReal, “VueReal’s micro-printing solution has been validated by several major companies – including automotive and consumer electronics leaders as well as major equipment vendors.”
Martin Bracamonte, vice president of marketing and innovation at Vitro, said Vitro’s partnership with VueReal will enable the former to leverage new features with devices integrated into its residential, architectural and automotive glass.
“This is a new platform that includes display products and sensors that can increase human interaction with our glass products,” Bracamonte said. “This completely enhanced experience will create value for consumers who interact with our glass through the touch, viewing, safety and protection of digitally enhanced glass products.”
Armed with new funding, VueReal plans to expand its customer base, strengthen its team and improve its current facilities. The startup noted that the investment will also help accelerate the commercialization of its micro-printing platform and provide users with a wider range of personalized display products.
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Previous funding from VueReal includes an $8.5 million grant from Sustainable Development Technology Canada, which was part of a cumulative $58.6 million awarded to 14 Canadian cleantech companies in 2018. Crunchbase Data also shows that VueReal raised $10.5 million for its Series A in 2018.
In 2019, VueReal participated in the fifth cohort of the Lazaridis Institute’s ScaleUp program, which aims to help companies accelerate their growth through mentorship, programming and access to a global network of experts.
Featured image courtesy of VueReal