Tech start-up SmartKem has announced it has raised 'Series A' funding from a high-profile investment syndicate. The innovative firm produces materials for the next generation of flexible display screens. The new investment will fund full commercialisation of organic semiconductor technology to enable truly flexible displays and electronics, said the UK-based firm.
The developer has now completed the significant 'Series A' funding round from the investment syndicate comprising BASF Venture Capital, Octopus Investments and Entrepreneurs Fund, along with further investment from its principal shareholder Finance Wales - having already invested £3m in the business to date.
SmartKem’s tru-FLEX flexible semiconductor technology was developed to allow display and electronics manufacturers to obtain industry-grade thin-film-transistor (TFT) performance with leading physical flexibility, enabling bendable and foldable mobile devices such as smartphones and tablets as well as wearable display-based applications.
SmartKem was a recent winner of the Printed Electonics Asia Award for Best Advanced Material Development.
Speaking in the new funding round, Steve Kelly, CEO of SmartKem, said: 'The market now recognises that SmartKem’s tru-FLEX provides manufacturers with truly flexible TFTs with high physical and electrical stability coupled with best-in-class charge carrier mobility.'
He continued: 'With the current traction in the markets for new form factor mobile displays and wearable technology, the timing of the latest round of investmentis ideal.'