Kyulux is proud to announce that it has finalized its series B funding round, in which it raised ¥3.5 billion (around $31.8 million USD). In 2016, Kyulux raised ¥1.5 billion from several companies and VCs, that also participated in the Series A round – in addition to Silicon Valley based WRVI capital. Nicholas E. Brathwaite, the founding Managing Partner of WRVI capital has joined the board of Kyulux as an outside director.
Kyulux will use the funds to further accelerate product development and strengthen its intellectual property, business development and organizational structure of the company. Kyulux will also update its governance system to match its global business development goals.
Junji Adachi, Kyulux’s CEO, commented: “We are promoting our global operations, centered on the display industry, and are actively partnering with global investors who have strong track records in deep technology investments. As a result, we are pleased to announce Nicholas Brathwaite (Nic), an industry veteran, as an outside director of Kyulux along with funding from WRVI, a prominent venture capital firm in Silicon Valley. Nic’s experience as CEO of Aptina, in addition to his broad technical expertise as CTO of Flextronics, will be valuable for Kyulux. The OLED market is growing at a healthy pace and the market is expanding beyond smartphones and large display TVs. Kyulux plans to use the 5B yen raised from investors for the commercialization of HyperfluorescenceTM“.