Linköping, Sweden 10 July 2024 — Polar Light Technologies, a leading microLED company, is pleased to announce new investments from Almi Invest, Butterfly Ventures and STOAF. These investments will accelerate Polar Light Technologies’ microLED development.

• Almi Invest is Sweden’s most active investor in early-stage, emerging companies
  with high growth potential
• Stockholm Business Angels (STOAF) is an early-stage angel group, backing ventures within the fields of tech and med-tech
• Butterfly Ventures is the leading sustainable seed entry deep tech Venture Capital Fund in the Nordics

• Investment Amount: ~12.3 MSEK ~ 1.2MUSD

Oskar Fajerson, CEO Polar Light Technologies: “It’s a pleasure to welcome Almi Invest and Buttefly Venture as new investors. Their expertise will strengthen the company’s capabilities through the final stages of research and into commercialization.”

Pär Carlshamre, Investment Manager Almi Invest: “Polar Light Technolgies’ is a fascinating deep tech company within semi-conductor photonic industry in the Östergötland region and we are excited to be part of their journey.”

Klaus Gottwald, General Partner at STOAF, “Stoaf made its first investment in the company already in 2021 and has noted solid progress on the road to red light which strongly motivated us to participate in this investment round.”

Tanya Horowitz, Partner at Butterfly Ventures: “We are thrilled to announce the investment into Polar Light Technologies alongside our brilliant co-investors!  It’s been an amazing journey to get to know this stellar team created in the research environment at LiU to achieve this transformative innovation for the Optoelectronics industry. We believe Polar Light Technologies can help to foster a promising industrial shift towards a sustainable future and look forward to the journey together with the team. “

About Polar Light Technologies

Current LED manufacturing technology results in an uneven surface with many defects and poor efficiency. Polar Light Technologies has developed a way to build microLEDs in small pyramids using controlled crystal growth, atomic layer by atomic layer. The result is unmatched pixel size, brightness and energy efficiency. The company has its roots in long and unique research done by Professor Per-Olof Holtz and his research team at Linköping University. Polar Light Technologies is part of LEADs incubator program to reach long term success.