March 15, 2006

By: Matt Arp
Website: http://www.1st-in-hdtv.com

MicroDisplay corporation closes $18 million third round of financing

MicroDisplay Corporation, technology leader in Liquid Crystal on Silicon (LCOS) components, announced today that it has secured more than $18M in its third round of financing. This round included substantial recommitments by existing investors such as August Capital and 2M Technology Ventures, as well as new investors such as Nokia Venture Partners and Mobius Venture Capital. MicroDisplay will use the funds to ramp up manufacturing, expand customer-engineering support, and double its research workforce.

“We are extremely pleased to have top tier investors such as Nokia Venture Partners and Mobius Venture Capital join our team,” said Sandeep Gupta, MicroDisplay president and CEO. "This new funding will permit us to move into volume production and expand our team and capabilities. Our E-HD single panel microdisplay devices have been well received by our target market, the OEM manufactures of high definition rear-projection TVs, and is expected to capture a large share of the multi-billion dollar digital television market during the next 18 months.”

"MicroDisplay’s new E-HD single panel LCOS is a result of almost 10 years of research and development and is now ready for mass production," said John Malloy, partner at Nokia Venture Partners. “Developing display technology usually takes around a decade from concept to production, and MicroDisplay has perfected its craft and is now ready to start manufacturing LCOS panels in volume. The E-HD more than doubles the resolution for digital televisions compared to products that are available today, and MicroDisplay’s standard CMOS semiconductor production technique for LCOS panels also makes it the lowest cost option for HDTV.”

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Author Notes:

Matt Arp contributes and publishes news editorial to http://www.1st-in-hdtv.com.  Great information on high definition, plasma, projection, LCD TV's plus home theaters and more.