WATERLOO — The governments of Ontario and Canada are welcoming a $40 million investment by VueReal Inc., a made-in-Ontario start-up located in Waterloo. This investment, supported by $10.5 million in joint funding, will boost local manufacturing, strengthen cleantech innovation and create 75 new, good-paying jobs.
“VueReal’s investment is a vote of confidence in Ontario’s world-class workforce and advanced manufacturing sector,” said Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade. “We’re building Ontario by working closely with companies like VueReal to create more opportunities for workers today and for generations to come. Thank you VueReal for choosing Ontario.”
“Now is the time for ambitious climate action, and to support cleantech entrepreneurs like VueReal, who are turning vision into reality with help from today’s investments,” said François-Philippe Champagne, Canada’s Minister of Innovation, Science and Industry. “Our government is proud to stand shoulder-to-shoulder with these groundbreaking companies as they drive innovation and make their mark as international leaders in clean technology. We will continue to support our companies as they grow the economy and create well-paying jobs in this industry.”
Since launching in 2016, VueReal has quickly become a leader in the development and manufacturing of microLED displays and sensors. These displays are used in the aerospace, automotive and medtech sectors in a wide range of devices, including smartphones, televisions, laptops, virtual/augmented reality systems and heads-up-display instrument panels.
VueReal’s investment will expand the company’s operations by boosting manufacturing capacity and accelerating microLED fabrication processes. Ontario is supporting this investment with $2 million in funding provided through Invest Ontario, the province’s investment attraction agency. The Government of Canada is also supporting VueReal with $8.5 million provided through Sustainable Development Technology Canada (SDTC). This is the second SDTC investment in VueReal and part of a continuing collaboration that is enabling the company to create high-brightness microLED displays.
In a time of global economic uncertainty, Canadian entrepreneurs continue to advance made-in-Ontario solutions around the world with support from the governments of Ontario and Canada.