Reports suggest that Google is set to follow in the footsteps of other tech giants by investing in innovative firms in the Øresund region. According to Swedish publication Rapidus, the global tech behemoth has recently pumped approximately 120 million Swedish kronor into Glo, a nanotechnology startup linked to Lund University in Sweden.
Glo specializes in developing nanotube LEDs fabricated through controlled growth on silicon substrates. The company has dedicated significant efforts toward display technologies, including those used in mobile phones, tablets, and VR (virtual reality) devices. Glo collaborates closely with established display and electronics manufacturers, and as per their latest annual report, commercial products featuring Glo's technology are expected to hit the market in the latter half of 2018.
Micro LED (micro-light-emitting diode) has emerged as a hot topic in recent years, with many companies viewing it as a game-changing technology that could disrupt the market and open new opportunities. Major players and startups alike are racing to enter this field, leading to a surge in patent filings starting in 2013.
To put Micro LED into perspective in a single sentence, it involves shrinking LED sizes down to just one percent of the original, reducing both pixel dimensions and spacing to the micron level.
For wearable devices like smartwatches and VR glasses, smaller diodes allow higher resolutions even on compact screens. Lars Samuelson, a board member of Rapidus and head of market research, noted that VR glasses require pixel sizes below 10 microns to enhance user comfort. Google appears to be eyeing this path, though Samuelson declined to comment on Glo's financials. However, Rapidus discovered that Glo raised $15 million this summer through the sale of all its shares directly to Google, giving the tech giant over 13% ownership of the Skane Frontier Institute.
This is just the beginning of Google's involvement with Glo. If everything progresses smoothly, the company's investment could triple in the near future.
In the most recent annual report, management stated that Glo plans to invest a total of $45 million, or around 360 million Swedish kronor (approximately 288 million yuan). Some of these funds will be disbursed within a year, contingent upon achieving certain milestones. Besides Google, no additional funding rounds were mentioned in the actions discussed by Rapidus.
Prior to Google's involvement, Glo had already attracted substantial investment. Its biggest investor was a London-based Wellington partner holding close to 19% of the shares; following closely behind were the Wallenberg family's Foundation Asset Management and Norwegian Nano Future Investments.
Over the last few years, funding from entities such as Google has exceeded $1.2 billion (approximately 7.94 billion yuan).
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