The TruFlex material system used as the active thin-film transistor backplane and which can be deployed using low temperature processes enables flexible liquid crystal and OLED displays. SmartKem said the technology us being adopted by a number of key manufacturers in the display industry for a new generation of lightweight and flexible OLED displays.
The funding has been raised from the existing investment syndicate members, including BASF Venture Capital, Octopus Ventures and Entrepreneurs Fund.
"Prior funding enabled us to capitialise on the strong traction with display manufacturers wanting to adopt our semiconductor technology platform. We have since made real progress in the transfer of our technology over to Asia and this recent funding will support the move from pre-production to scaled-up production," said Steve Kelly, CEO of SmartKem, in a statement.
The investment also follows a recent €1.8million EU grant awarded to SmartKem to support the commercialisation of the company’s technology platform, specifically with display makers in Asia.
SmartKem employs more than 35 people and has an 8,000 square foot technology facility in Manchester, England.
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