Samsung led the OLED display technology developer's series A round through its corporate venturing subsidiary, while LG, Japan Display and JOLED also participated.
Japan-based lighting technology startup Kyulux raised $13.5m on Wednesday in a series A round led by Samsung Venture Investment Corporation, electronics producer Samsung’s corporate venturing arm.
Organic light-emitting diode (OLED) panel manufacturers Samsung Display, LG Display, Japan Display and JOLED (Japan OLED) also took part in the round, investing alongside undisclosed Japan-based venture capital funds and a Japanese government-affiliated fund.
Kyulux is developing OLED technology called Thermally Activated Delayed Fluorescence (TADF), which will be utilised in electronics displays and lighting. The OLED sector is expected to grow rapidly, with Apple reportedly set to begin using it in iPhones in 2018.
The round also included Kyushu University, which made an investment while additionally transferring a “large” portfolio of TADF-related patents to the company.
Christopher Savoie, CEO of Kyulux said: “We are very glad to announce this significant funding milestone and the agreement on technology transfer with Kyushu University.
“We have brought in some key global OLED leaders and world renowned investors who will give us a strong base to accelerate the market for this next generation of OLED technology.”
– This article first appeared on our sister site Global Corporate Venturing.
