Intel Capital et al. in series-C for Aledia

Braemar Energy Ventures, Demeter Partners, BPI France, Ikea GreenTech, Sofinnova Partners and Supernova Invest have also taken part in the financing.

Intel Capital is a VC firm that invests in startups targeting 5G connectivity, the data centre, artificial intelligence, merged reality, autonomous driving and a wide range of other technologies.

BPI France used its Ecotechnologies fund for the transaction, launched in 2012. The fund closed on €150m and it invests €2-10m, targeting quasi-equity investments in minority shareholdings in innovative SMEs, mainly French-based and unlisted.

Ikea GreenTech is the the venture capital arm of Ikea. It invests primarily in technology companies, and has €60m in assets under management.

The series-C financing will support the company's plans to significantly accelerate the speed of its LED technology development, including acquiring critical equipment.

Previous funding
In 2013, Sofinnova, Braemar, Demeter and CEA Investissement committed to a series-A round of €10m for Aledia.

A series-B round arranged in 2015 saw €28.4m invested in the business by Leader Valeo, Ikea GreenTech and BPI France. Alongside the financing, development-and-supply contracts were signed with automotive-lighting company Valeo and Ikea GreenTech.

Company
Founded in 2011, Aledia is developing a new technology of LEDs that are manufactured on large-diameter silicon wafers and targeted at mobile display applications. The LED technology is expected to lead to displays that are more energy-efficient, much brighter and can be produced at moderate cost. Aledia is based in Grenoble, France, and has subsidiaries in the US, Taiwan and Malaysia.

People
Aledia – Giorgio Anania (CEO).  
Intel Corporation – Gregory Bryant (client computing group senior vice-president).

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