Trinity Capital, a provider of debt and equipment financing to venture capital-backed companies, closed a $30 million equipment financing line for Aledia, a LED technology company that develops and manufactures next-generation microLED displays. The team at Aledia expects to use these proceeds to further establish its in-house manufacturing for nanowire growth and accelerate product platforms and development.

Aledia is a company that develops 3D micro-light-emitting-diode (microLED) chips used in displays and based on 3D architecture using gallium-nitride on-silicon microwires. Aledia’s microelectronics manufacturing technology is used in products such as smartphones, tablets, virtual reality and augmented reality systems, smartwatches, laptops and wearable devices.

“We are thrilled to partner with Aledia on their journey towards disrupting the display market,” Ryan Little, managing director of equipment financing at Trinity Capital, said. “Their entrepreneurial spirit is just as impressive as their technology and we could not be happier to support the team as they continue to build and grow the company.”

“At Aledia, we are committed to creating proprietary technology foundational to the future of next-generation displays,” Giorgio Anania, CEO of Aledia, said. “We are at an inflection point for our business and are excited to be working with Trinity as Aledia enters its next phase of growth. Today’s display technologies are not equipped for modern mobile devices and this investment will help us further develop our nanowire technology to provide a superior product to current OLED technologies.”