This recent financing brings the company’s total funding to $5.5 million and positions Kubos to penetrate the microLED display market within the next three years through IP licensing. Spherical Insights and Consulting projects that the global market for microLED displays will expand from $1.35 billion in 2022 to $14.97 billion by 2032. Kubos' technology aims to enable the production of clearer, brighter, and more efficient displays, particularly for augmented reality and virtual reality (AR/VR) applications.

Kubos has garnered backing from three renowned veterans of the UK compound semiconductor industry – Martin Lamb, Drew Nelson, and Geoff Haynes – who collectively bring over a century of experience in compound semiconductor materials development. Strategic investments have also been made by the Development Bank of Wales, FOV Ventures, and S4C Digital Media Limited, aligning with Kubos' forward-thinking technological advancements.

Caroline O’Brien, CEO of Kubos commented, “Any UK compound semiconductor business would be thrilled to have just one of these movers and shakers in the industry supporting it and Kubos can now draw on the experience of all three. In addition, the strategic investor group that we have assembled brings vital insight into how the metaverse, digital content and AR/VR products drive display and microLED requirements. This, coupled with our unrivalled experience in compound semiconductors means that Kubos is now fully equipped and ready to deliver.”

Martin Lamb, formerly CEO of Wafer Technology (which was acquired by IQE plc in 2000) and an angel investor with several successful exits, was instrumental in the formation of Kubos and an early investor and has guided and shaped the team. He has served as Chairman since its inception and will continue in this role. Drew Nelson OBE, President of IQE plc, a major compound semiconductor supplier, having founded and grown the business before stepping down as CEO in January 2022, has invested in Kubos and joins the board of directors. Geoff Haynes also participated in this investment round and is a gallium nitride (GaN) semiconductor expert.  A company he co-founded in 2008 to address the power semiconductors market, GaN Systems, was acquired by Infineon for USD 830 million last year.

The Development Bank of Wales has a track record of supporting breakthrough technologies and compound semiconductor businesses. FOV Ventures is focussed on spatial computing and 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 AR/VR opportunity that Kubos aims to exploit.

Dr Carl Griffiths, fund manager in the Technology Venture Investments team at the Development Bank, said: “Kubos’ proprietary technology has the potential to improve the user experience for lighting and displays and accelerate the adoption of microLEDs across a wide range of applications. We are proud to be working with this exciting company of highly acclaimed engineers and scientists, and to have helped them re-locate to Wales to make use of the compound semiconductor expertise and infrastructure in the region.”