Kyulux, (Headquarters: Fukuoka, Japan) is pleased to announce that it has finalized its Series B-prime funding round, in which it raised ¥3.625 billion (around $34.3 million USD) from several venture capitals and companies. Kyulux had previously raised ¥5 billion JPY in series A and B financing rounds and had successfully developed the promising OLED emitting technology Hyperfluorescence™ and began commercial shipment of TADF materials for the world’s first Hyperfluorescence™ display in 2020.
Kyulux will use the funds to further accelerate product development for adoption of its materials in smartphones, which are the largest market for OLEDs, strengthen its IP portfolio (including the Hyperfluorescence™ fundamental patent transfer from Kyushu University) and build a mass production system in cooperation with affiliated chemical companies. The company also endeavors to promote business development with customers by integrating sales and development and updating its governance system to match its global goals.
Dr. Zou Jun, Investment Director of Shanghai Pudong Science and Technology Investment, has joined Kyulux’s board as an outside director.
Noboyuki Nakano, Kyulux’s CEO and CBO, commented:
“We would like to thank our existing and new shareholders for their great support and we will do our best to earn their trust.
Kyulux is now launching an updated and accelerated product development project, and the company will also accelerate its business development activities, working with customers to bring our materials to market as quickly as possible. In parallel to these R&D activities and business collaborations, Kyulux will continue to build a mass production system for our current and future materials.We are confident that having Dr. Zou Jun on our board will greatly contribute to our penetration in the Chinese market, which will be our focus in the future.”