MicroLED Pioneer Ingantec Raises $2M, Names Alan Yeung as CEO
Full Press Release - Ingantec Corporation - 4/18/24 Funding Announcement
Former Foxconn executive to lead company redefining next-gen display technology
MILWAUKEE, WISCONSIN, UNITED STATES, April 18, 2024 /EINPresswire.com/ -- Ingantec Corporation, an emerging leader in microLED technology, today announced it has raised $2 million in venture financing led by Lubar & Co., with participation from Jon Hammes, Ted Kellner, and other investors.
“We are excited and grateful for the support from our Wisconsin-affiliated investors and partners,” said Dr. Alan Yeung, Co-Founder and Chairman of Ingantec. “This new investment will allow us to gain momentum and leverage the power of semiconductors to redefine how microLEDs are built.”
Since 2022, Ingantec has focused on developing nitride-based compound semiconductors for optoelectronics used in AR/VR, smartwatches, phones, computers, cars, and TVs. This seed funding will enable Ingantec to accelerate commercialization of its patent-pending technology for microLED displays — originally licensed from the University of California, Santa Barbara, and further developed at the University of Wisconsin-Madison (UW Madison).
“Our interest is to help entrepreneurs build successful companies that impact our communities, create value for investors and stakeholders, and change the world for the better,” commented David Lubar, President and CEO of Lubar & Co. “Ingantec is a unique investment for Lubar & Co. with its exceptional leadership team, technological capabilities, and growth potential.”
With this new funding, Alan Yeung has joined Ingantec and will lead the company as its CEO.
Yeung is an author, entrepreneur, inventor, and senior technology executive, holding various leadership roles with multinational firms throughout his career. Before Ingantec, Yeung held the position of Professor of Practice for Entrepreneurship at UW Madison and served on its College of Engineering Industry Advisory Board.
Prior to UW, Yeung was a top executive at Foxconn Technology Group, where he led its multibillion-dollar venture to reshore electronics manufacturing back to the U.S. Yeung received his MS and PhD from Stanford University, MBA from the Haas School of Business at UC Berkeley, and BS in Chemical Engineering from UW Madison.
Ingantec is headquartered in Milwaukee with operations in Madison, Wisconsin.
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About Lubar & Co.
With investment experiences and a record of success with portfolio companies across diverse industries in various stages of development, Milwaukee-based private investment firm Lubar & Co. has applied a unique blend of patient capital, collaborative vision, and steadfast commitment to management teams to build thriving companies and strong communities. Lubar & Co. nurtures market-leading companies that produce consistent growth and enhance equity value over the long term. For more information, visit www.lubar.com.
About Ingantec
Founded in 2022, Ingantec Corporation is a privately held company dedicated to developing next-generation microLED solutions. Co-founded by Drs. Shubhra Pasayat and Chirag Gupta, now assistant professors of the College of Engineering at the University of Wisconsin-Madison, Ingantec aims at exploring and exploiting wide band-gap semiconductor engineering capabilities to improve product performance, reliability and manufacturability via novel design and fabrication of III-nitride materials. To inquire further, please visit www.ingantec.com
Christian Dennik
Ingantec Corporation
+1 414-301-1790
cdennik@ingantec.com
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