French microLED display startup Aledia announced it closed an €80M first tranche of its €120M D-round financing. The company will reportedly use the funds to finish product development and create a new high-volume 3D microLED manufacturing facility in France for an estimated capital expenditure of €40 million (excluding equipment).

Aledia uses its proprietary technology to generate LED chips for next-generation displays for smartphones, laptops, smartwatches, tablets, augmented-reality glasses and large TVs.  The technology is reportedly the subject of 197 patent families making Aledia the top French startup in France in terms of filed patents.

Aledia investors reportedly include Demeter Investment Partners, Ingka Investments, Braemar Energy Ventures, the Ecotechnologies fund of Bpifrance, Supernova Invest, Valeo, Intel Capital, Sofinnova Ventures, TEL (Tokyo Electron), and several large technology companies.

See Business Wire; Yahoo Finance