Aledia raises €80m in series-D led by BPI France

The €80m funding is the first of the three tranches planned for its €120m series-D financing, following which the company will have raised around €188m in total funding since it was founded. 

Most existing investors took part in the round, with the company's existing backers including Intel Capital, Braemar Energy Ventures, Demeter Investment Partners, the Ecotechnologies fund of BPI France, Ingka Investments, Sofinnova Ventures, Supernova Invest, Tokyo Electron, Valeo and several large technology companies.

Aledia will use the proceeds to complete product development and create a new micro-LED manufacturing facility in the Grenoble area for an estimated capex of €40m, excluding 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 in 2015 saw €28.4m invested in the business by Leader Valeo, Ikea GreenTech and BPI France. 

US-based Intel Capital in 2018 led a €30m series-C funding round for Aledia, with Braemar Energy Ventures, Demeter Partners, BPI France, Ikea GreenTech, Sofinnova Partners and Supernova Invest also taking part in the financing.

Company
Headquartered in Grenoble, Aledia span out of CEA-Leti in 2012 and uses its proprietary technology to develop LED chips for displays for laptops, tablets, smartphones, smartwatches, augmented-reality glasses and large TVs. According to its LinkedIn page, it employs 50-200 staff. 

People
Intel Capital – Marshall Smith (senior director, materials management).  
BPI France – Magali Joëssel (SPI fund director).  
Aledia – Giorgio Anania (CEO, chairman, co-founder).

Advisers
Company – Ancoris Capital Partners (financial due diligence); Orrick (legal).

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• Topics
• Expansion
• France
• Venture
• France
• BPI France
• Intel Capital
• Demeter Partners
• Sofinnova Partners