Cynora secures US$25M in series C round, names new CEO

May 13, 2019 //By Julien Happich
Cynora
Marking the initial closing of its first Series C funding round, OLED materials provider Cynora announced it has secured US$25M in financing from investors in Asia, Europe and the US. Germany-based Cynora has raised US$80M since its inception in 2008. Final closing of the C round with an additional investment is expected shortly.

In a related move, the startup has appointed Adam Kablanian as Chief Executive Officer (CEO) to succeed Gildas Sorin who led the company through R&D and early customer engagements. Sorin will remain at Cynora during the transition.

Kablanian 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. He also led PlasmaSi, an OLED encapsulation company acquired by Aixtron.

The new Series C investors include: SRF Partners Group LLC (SRF), a US fund that includes financing from a Korean technology corporation; DBOLED LLC, a US fund, and SBI Cross-Border Advantage Fund, based in Korea. Existing investors also participated in the round including MIG Funds, a leading German VC firm, and Wecken & Cie, based in Switzerland. Previous investors include LG Display and Samsung Venture Investment Corp.

The funds will be used to build a worldwide infrastructure to support the production, sales and support of Cynora’s Thermally Activated Delayed Fluorescence (TADF) materials for next-generation OLED displays.

TADF materials are expected to radically improve the efficiency of blue emitters, which are currently the performance-limiting components of OLED devices.

Cynora - www.cynora.com

 

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