Flexible electronics developer, FlexEnable, has raised $11 million to enable mass production of flexible displays and liquid crystal optical modules at Asian display manufacturing partners.
The investment was made by Coretronic, a Taiwanese LCD backlight module manufacturer, alongside European family offices.
The $11 million investment includes options for a further $14 million investment which is expected to finance FlexEnable through to mass production ramp up of flexible displays and liquid crystal optical modules at Asian display manufacturing partners.
The funds will also be used to scale up the company’s organic materials production capacity to meet the needs of display manufacturing partners entering volume production.
Chuck Milligan, CEO, FlexEnable, commented: Having industry heavyweight Coretronic on board as an investor and partner is further validation of both FlexEnable's business model and our technology leadership in the materials and processes which enable volume production of unique flexible optical modules and displays. As a principal player in the LCD supply chain, Coretronic's deep industry expertise will be a great benefit to us as we now move from production setup to mass production. We are very excited to have strong new investors on board, and very grateful for the on-going support from Rusnano and Novares, who have been instrumental in enabling us to develop our technology and great commercial projects over the past years."
Pictured: FlexEnable's flexible LCD technology.