Kubos Semiconductors has raised over USD 2.1 million to accelerate development of our cubic GaN technology. The investment includes the award of a Growth Catalyst project grant from Innovate UK, part of UK Research and Innovation (UKRI).
This funded project will explore the potential of Kubos’ patented cubic GaN microLED technology to deliver Gigahertz switch speeds at low operating powers for optical communication applications. The fundraise brings Kubos’ total funding to over USD 8 million and will enable us to enter the microLED market within three years through IP licensing.
The financial support from Innovate UK is matched by investor funds from strategic investors Development Bank of Wales (Lead Investor), the Low Carbon Innovation Fund 3 (LCIF3) and S4C Digital Media Limited. The fundraise also includes follow-on investment from Kubos’ existing shareholders.
Dr Susan Gormley, CEO of Kubos commented:
“We are deeply grateful to UKRI and our existing shareholders for this investment, which will accelerate the development of high speed microLEDs for optical interconnects. The project perfectly complements Kubos’ ongoing development of a platform-material solution for efficient microLEDs emitting across the visible wavelength spectrum. This is an exciting opportunity to strengthen Kubos’ pathway to commercialisation through the delivery of transformational technology for AI and datacentre infrastructure, next generation displays and high efficiency lighting.”
Gareth Mayhead, Investment Executive at the Development Bank of Wales, said:
“Kubos is exactly the kind of Welsh tech venture that demonstrates the strength and potential of South Wales’ compound semiconductor sector. Since our first investment, the team has made encouraging progress in developing technology that could improve the efficiency and scalability of microLED production for global markets. Our follow-on funding is a relatively small investment, but it plays an important role in unlocking further capital, including Innovate UK grant support, and gives Kubos the runway it needs to continue proving its technology at scale. The continued support of LCIF3 also reflects confidence in the company’s progress and the opportunity for Wales to build on its growing reputation in this key growth sector.”
Prof. David Wallis, Co-founder & Technical Director
The Development Bank of Wales has a track record of supporting breakthrough technologies and compound semiconductor businesses. The Low Carbon Innovation Fund 3 (LCIF3) is a co-investment fund operated by the University of East Anglia, focused on developing environmentally beneficial technologies, products or services. S4C Digital Media plays a key role in the delivery of digital content to consumers. This investor group brings experience and knowledge that touches on all aspects of the opportunity that Kubos aims to exploit.
