PeroLED Limited has secured a $2 million seed investment from the KAUST Innovation Fund. Seed investment will enable PeroLED to further develop its proprietary technology to expand the colour gamut of displays.
PeroLED will now incorporate a subsidiary in the Kingdom of Saudi Arabia to further extend its research and development capabilities. The subsidiary will be located in the King Abdullah University of Science and Technology (KAUST).
KAUST Investment Fund
KAUST advances science and technology through distinctive and collaborative research integrated with graduate education. Located on the Red Sea coast in Saudi Arabia, KAUST conducts curiosity-driven and goal-oriented research to address global challenges.
The KAUST Innovation Fund aims to grow an innovation and technology investment community and makes venture capital investments in deep tech startups to support the emerging Saudi Arabian entrepreneurship ecosystem. The KAUST Innovation Fund makes equity investments in startups and early-stage companies and allows KAUST to become a shareholder with a clear stake in the company’s success.