WATERLOO — A Waterloo company specializing in microscopic nanotechnology is making a big investment in its future.

VueReal is embarking on a $24-million project to expand its team and create an advanced nanotechnology centre at its facility on Phillip Street. In the past six months, the VueReal team has more than doubled in size to 27; chief executive officer Reza Chaji said it could grow to 40 next year.

Founded in 2016, VueReal works in the field of micro-LEDs (light-emitting diodes) that can be used in displays in everything from next-generation smartphones and televisions to virtual and augmented reality systems, instrument panels and wearable technology.