Swedish Micro LED company Polar Light Technologies completes over 20 million yuan in financing

On April 3, Swedish Micro LED technology company Polar Light Technologies ("PLT") announced that the company has successfully completed a new round of fully subscribed financing, with the financing amount reaching approximately US$3.4 million (approximately RMB 24.4732 million).

Image source: Polar Light Technologies

All major shareholders of PLT participated in this round of financing, including Stoaf SciTech and the Bo Eklöf family (fam Bo Eklöf), as well as Almi Invest, Sustainable Energy Angels, Butterfly Ventures and LiU Invest, while Swedish investment company J2L Holding joined as an important new investor.

After receiving the support of this round of financing, PLT stated that the company has now entered the commercialization stage and plans to bring its innovative Micro LED technology to the market in 2026.

In December 2024, PLT successfully produced 625nm red Micro LED based on a unique pyramid structure. This means that PLT has developed red, green, and blue pyramid structure Micro LEDs using the same compound materials, laying the foundation for the realization of monolithic RGB displays.

Image source: Polar Light Technologies

It is reported that PLT uses atomic layer deposition (ALD) technology to grow pyramid-structured gallium nitride Micro LEDs on silicon carbide substrates. The pyramidal structure was grown using a novel bottom-up technique that eliminates the need for etching. This structure provides the LED chip with narrow beam characteristics, further improving Micro LED performance and maintaining sub-micron dimensions.

Pyramid structure Micro LED (Image source: Polar Light Technologies)

Compared with conventional LEDs, pyramid structure Micro LEDs can increase AR system efficiency by 50 to 200 times by improving internal and external quantum efficiency and enhancing light utilization. By reducing internal electric field interference and optimizing the interaction of charge carriers in quantum wells, these Micro LEDs are able to produce more light with a clearer, narrower emission spectrum. Therefore, pyramid structure Micro LED is very suitable for applications such as augmented reality (AR) and pico projectors that require precise light control.

PLT has previously developed Micro LED based on its own technology with Finetech, a developer of chip bonding solutions, and has made significant progress in AR, HUD and HMD applications. The two parties developed an improved flip-chip cold bonding technology to ensure precise alignment between Micro LEDs and electronic components.

Regarding the completion of the latest round of financing, PLT said that this is a key step in the company's growth journey. Currently, the company is preparing Prepare for the next round of financing to further accelerate the commercialization process of its own Micro LED technology. It is expected that a larger round of financing will be conducted in 2026 to support the company's Micro LED technology to fully enter the market.