Novaled AG, a Dresden, Germany-based developer of Organic Light Emitting Diode (OLED) technology and organic materials, has received an equity investment of undisclosed amount from Samsung Ventures Investment Corporation.
The company intends to use the proceeds from the financing to reinforce its market position and improve customer support.
The Novaled PIN OLED® technology aims at reducing the energy consumption while offering longer lifetimes.
Led by CEO Gildas Sorin, Novaled provides innovative OLED technologies and specific organic materials helping display and lighting manufacturers make their products with high performances on a commercial scale.
The company has developed long term partnerships with major OLED producers in display and lighting throughout the world.
Other investors in Novaled include eCAPITAL, Crédit Agricole Private Equity, TechnoStart, TechFund and CDC Innovation.