OTI Lumionics, a Toronto, Canada-based developer of production-ready materials for consumer electronics, raised $55M in Series B funding.
Backers included Technology Ventures, Samsung Venture Investment Corporation, UDC Ventures, Anzu Partners, and The Family Office of Lee Lau.
The company intends to use the funds to accelerate the adoption of its display materials by multiple display manufacturers that supply smartphone, tablet, laptop, AR/VR headset and TV brands.
Led by CEO Michael Helander, OTI Lumionics provides quantum computing methods for industrially relevant materials design and apply them to commercial problems. The company’s display materials were designed using a proprietary quantum and AI-driven computational platform that incorporates closed-loop feedback from in-house automated pilot production testing and application engineering. The product development capabilities of OTI allow new materials to be designed to fit existing production processes rather than having customers significantly alter their production processes and equipment to fit a new set of materials.
The company is currently delivering key enabling materials for OLED displays developed using its platform to leading display manufacturers for use in next-generation consumer electronics and automotive.
FinSMEs
28/10/2022