Pixel-Flo lights up with £5.25 million raise

A Sheffield-based semiconductor technology business is set to accelerate its growth after securing multi-million-pound investment to commercialise a breakthrough in next-generation display manufacturing.

University of Sheffield spin-out Pixel-Flo has raised £5.25 million in an oversubscribed Seed funding round led by Northern Gritstone, with additional backing from SCVC, the Parkwalk Northern Universities Venture Fund and German investor HTGF.

Founded by Dr Rick Smith, Dr Suneal Ghataora and Simon Jones, Pixel-Flo has developed proprietary Continuous-Flow Mass Transfer technology designed to overcome one of the biggest manufacturing challenges facing MicroLED displays. 

The technology aims to reduce production costs while enabling large-scale manufacturing of brighter, more energy-efficient displays for products ranging from smartwatches to televisions.

Built on research from the University of Sheffield’s School of Electrical and Electronic Engineering, the company also has international growth ambitions, recently appointing a Taiwan-based vice president of business development to strengthen customer engagement in one of the world’s leading display technology markets.

Rick says the funding will support Pixel-Flo’s transition from laboratory research to industrial scale-up, enabling the business to expand its team and relocate to larger laboratory and office facilities.

He said: “This investment allows us to expand our team and demonstrate our unique technology on a commercial coating system, enabling partnership and evaluation by display manufacturing partners. 

“We are proud to have a fantastic international consortium of complementary investors led by Northern Gritstone supporting our international ambitions to enable huge new market opportunities for microLED.”  

John Williams, SCVC general partner, added: “Deep Tech is full of breakthrough technologies looking for a problem to solve. 

“Pixel-Flo inverted that – an elegant solution to the bottleneck that has held microLED back, a display technology that outperforms on every metric. 

“The syndicate around them reflects what the management team has already built.”

Anne Umbach, senior investment manager at HTGF, added: “From my experience in displays and printed electronics, I know all too well how challenging it is to scale new display technologies. 

“Pixel Flo’s approach targets precisely this critical bottleneck in the micro-LED market – and this team has what it takes to deliver a key technology for the next generation of displays.”

Pixel-Flo was previously part of Northern Gritstone’s NG Studios deeptech venture builder, with the latest investment expected to accelerate the commercialisation of its technology and support wider adoption of MicroLED displays.

Duncan Johnson, chief executive of Northern Gritstone, added: “Pixel-Flo is a great example of the deep-tech innovation with global ambitions emerging from the Northern Arc that Northern Gritstone strives to support. 

“As a graduate of our NG Studios venture building programme, the company combines world-class science with a clear path to commercial impact. 

“By developing a scalable, lower-cost solution, Pixel-Flo’s MicroLED mass transfer assembly process has the potential to unlock MicroLED displays for the mass market.” 

Professor Sue Hartley, vice-president for research and innovation at the University of Sheffield, added: “Pixel-Flo represents the potential impact of the world class research taking place at the University of Sheffield and the importance of an innovation ecosystem backed by financial investment in helping to realise that potential. 

“The company’s approach to addressing a critical bottleneck in industry together with its international growth ambitions are an inspiration to other spinout companies emerging from the North of England. 

“I am excited to see the company grow following this new investment.”

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