The extended reality display inspection and repair company, InZiv, has raised $10 million in a Series A1 funding round to invest in global growth and capitalize on the rising demand in the US and Asian markets. The company enables engineers to detect light and color defects pixels wide by deploying nano-optical technology to inspect microLED, QLED, and OLED displays at a sub-micron scale.
The Jerusalem-based company will also allocate the funds to speed up the production of its fast electroluminescence and photoluminescence-based automated repair solutions.
The funding round was led by Singapore-based venture capital fund BlueRed Partners and saw participation from OurCrowd.
InViz also announced the addition of Yishai Klein, Managing Partner and Co-founder of BlueRed Partners, and Itzhak Edrei, President Emeritus of Tower Semiconductor, to the company’s Board of Directors.
“InZiv has already made a name for itself in the next-generation display industry and counts some of the world’s leading companies among its customers. We are especially excited to help InZiv in this next chapter of growth as the company expands into the Asian market, which is such a critical part of the display industry,” said Klein.
The global demand for efficient XR displays has significantly expanded over the past few years. InZiv Founder and CEO, David Lewis, explained the immense scope of the growing market. The microLED space is expected to exceed $21 billion by 2027. The company has already amassed several leading manufacturers as customers for its unique nano-optical solutions.
Countless XR firms worldwide are working on revolutionary display technology to beat the competition. Earlier this year, MojoVision had also unveiled a breakthrough lightweight AR display packing eye-tracking and eye-controlled navigation technology within the size of a contact lens. Another microOLED startup Porotech had also raised roughly $20 million in February.
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