OTI Lumionics completes mass production qualification of display materials
EP&T MagazineElectronics Optoelectronics Production / Materials Engineering Supply Chain display materials optoelectronics
Toronto firm raises $55 Million in series B funding
OTI Lumionics, a Toronto-based developer of production-ready advanced materials for consumer electronics, announces an oversubscribed USD$55 million Series B financing from LG Technology Ventures, Samsung Venture Investment Corp., UDC Ventures, Anzu Partners and The Family Office of Lee Lau. The new funding will accelerate the adoption of OTI’s display materials by multiple leading display manufacturers that supply all major smartphone, tablet, laptop, AR/VR headset and TV brands.
“Eliminating notches and cut-outs to maximize screen real estate is a major driver for next-generation device designs from multiple leading brands. Under display cameras and sensors are essential to realizing this design goal, but it is currently incredibly challenging to mass produce these types of displays without trading off performance. Our unique CPM™ display materials were designed to solve these specific challenges and have recently been customer qualified for mass production of next-generation smartphone displays,” said Michael Helander, president and CEO of OTI Lumionics.
“OTI has emerged as a key enabler of new materials that complement the OLED stack and are expected to enhance the ecosystem. We are excited to join the team as an investor in this round and look forward to broadening our dialogue,” said Josh Epstein, managing partner of UDC Ventures.
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 end-to-end 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.
Help commercialize its technology
“As a global leader in consumer electronics, we are always interested in the latest advancements in electronic materials,” said Robert McIntyre, Managing Director of LG Technology Ventures. “OTI’s integrated approach to materials discovery is well aligned with the needs of the electronics industry in terms of delivering mass-production ready solutions. We look forward to our continued work with OTI to help commercialize its technology in multiple consumer device applications and expanding the use of their development platform to new markets.”
“We are already working with customers and partners on tackling other high value problems in electronics manufacturing and beyond using our quantum-enabled platform,” continued Helander. “Successful customer mass production testing of our first commercial product in display, combined with the support of multiple top tier strategic investors, is great validation of the value of our platform.”