Kyulux, Inc. Announces $13.5 Million Series A Financing and Acquisition of Large OLED Patent Portfolio from Kyushu University
FUKUOKA, Japan, April 6, 2016 /PRNewswire/ -- Kyulux, Inc., an advanced materials startup that is commercializing the next generation of OLED display and lighting technology known as TADF (Thermally Activated Delayed Fluorescence), announced today that Samsung Venture Investment Corporation took the lead in a $13.5 million (¥1.5 Billion Japanese Yen) Series A round of venture funding. Participating in the round were global OLED panel manufacturers including Samsung Display, LG Display, Japan Display and JOLED, top tier Japanese venture capital funds, and a Japanese Government affiliated venture fund. Kyushu University also announced the transfer of a large portfolio of TADF related patents and equity participation by the university in the financing.
Co-founder Professor Chihaya Adachi, the inventor of TADF technology said, "We are extremely pleased with the enormous response we have had from strategic partners and investors. This funding will allow Kyulux to develop TADF technology into the new de facto standard for OLED displays and lighting. Because our technology has achieved high efficiency and deep blue emission as well as red and green without using rare metals such as iridium that are required for the previous generation of phosphorescent emission that I was also an inventor of, we will now have an alternative that is better for the environment, cheaper to produce, and absent the finite limits that the supply of iridium would allow."
Dr. Christopher Savoie, a serial entrepreneur and CEO of Kyulux stated, "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."
Junji Adachi, the visionary CTO of Kyulux who has led commercialization efforts for TADF for several years before co-founding Kyulux with Prof. Adachi stated, "We are confident in our development progress with novel TADF materials especially with support from our corporate partners. We will be introducing the next generation of emitting materials to the market very soon. We believe OLED displays with TADF will be the most prevalent interfaces for IoT in the future."
Apple recently reported plans to begin using OLED display technology for its devices such as the iPhone starting in 2018. This move by Apple will cause the global OLED market to increase dramatically. OLED market researchers estimate that the OLED market will reach more than $32B worldwide in 2020.
About Kyulux
Kyulux is a leader in developing and delivering the next generation of organic light emitting diode (OLED) technology, TADF. Kyulux develops and sells TADF and Hyperfluoresence based OLED materials and solutions to manufacturers in the display and lighting industries. Founded in 2015, the Company currently owns or has exclusive or co-exclusive rights to a large TADF intellectual property portfolio developed over the past seven years at Kyushu University and its industrial partners. Kyulux's cofounder and inventor of TADF technology, Prof. Chihaya Adachi, is widely viewed as the top global researcher in OLED technology, having been a key author and inventor in all previous generations of OLED materials used globally everyday by consumers of cell phones, televisions, and other displays.
Based in Fukuoka, Japan, Kyulux enjoys global development partnerships with some of the leading manufacturers in the display market.
Kyulux and the Kyulux logo are trademarks or registered trademarks of Kyulux, Inc. All other company, brand or product names may be trademarks or registered trademarks.
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Kyulux Inc.
Suite #2-227, FiaS, 4-1 Kyudai Shinmachi, Nishi, Fukuoka 819-0388, Japan
Junji Adachi, CTO
Phone: +81-92-834-9518
URL: http://www.kyulux.com/
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SOURCE Kyulux, Inc.
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