FlexEnable secures £8.1m Series B funding from Coretronic to scale production of flexible displays
Coretronic provided the investment alongside European family offices to support mass production ramp-up.
FlexEnable develops and industrialises flexible organic electronics, enabling the manufacture of glass-free flexible displays and optical modules. The firm operates a fabless model that utilises existing flat-panel production lines.
Cambridge-based FlexEnable has secured £8.1m in Series B funding from Coretronic, alongside European family offices. The capital will support the company as it transitions towards mass production of flexible displays and optical modules, and scales up its organic materials manufacturing capacity.
The initial financing includes options for further investment and arrives as the firm prepares for volume production ramps with Asian manufacturing partners. Existing backers Rusnano and Novares also maintain their support for the business.
From the founder
"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."
Chuck Milligan
CEO at FlexEnable
Investor perspective
"Our consumer electronics partners and customers continue to demand increased functionality in their products coupled with improved form factors. The FlexEnable technology can enable new functionalities in lighter, thinner and even curved devices, and we look forward to working with the FlexEnable team to bring these new products into volume production,"
Sarah Lin
President, Coretronic
Use of funds
- 01Continue product development
- 02Scale operations
Investors
Categories
About the company
FlexEnable
FlexEnable develops flexible organic electronics and manufacturing processes for glass-free displays.