Cynora, a Bruchsal, Germany-based OLED materials innovator, secured US$25M in the first closing of its Series C funding round.
– SRF Partners Group LLC (SRF),
– DBOLED LLC,
– SBI Cross-Border Advantage Fund,
– MIG Funds, and
– Wecken & Cie.
In conjunction with the funding, Dan Rubin, a partner with SRF, joined Cynora’s board.
The company, which has raised US$80M since its inception in 2008, intends to use the funds to build a worldwide infrastructure to support the production, sales and support of its Thermally Activated Delayed Fluorescence (TADF) materials for next-generation OLED displays.
Led by newly named CEO Adam Kablanian, Cynora is an emerging materials leader with novel technology producing ultra-high-efficiency emitter systems required for next-generation Organic Light Emitting Diode (OLED) displays.
TADF materials aims to improve the efficiency of blue emitters, which are currently the performance-limiting components of the OLED device.
Kablanian succeeds Gildas Sorin who led the company through R&D and early customer engagements. Sorin will remain at CYNORA during the transition.
He previously led several Silicon Valley-based public and privately-held companies, bringing complex technologies to market and building large infrastructures to support global customers. They include Virage Logic, an embedded memory leader he co-founded and took public before it was acquired by Synopsys, and PlasmaSi, an OLED encapsulation company acquired by Aixtron.