UK's SmartKem, a developer of high-performance organic backplanes for flexible displays, announced a €3 million financing round from its existing investors, including BASF Venture Capital, Octopus Ventures and Entrepreneurs Fund.

This new round follows a recent €1.8 million EU grant awarded to SmartKem to support the commercialisation of the company’s technology platform, specifically with display makers in Asia.

In September 2015 Smarkem signed agreements with two "leading Asian display makers" to transfer SmartKem's OTFT tru-FLEX technology into production lines. In 2014 SmartKem completed its €3 million series A funding round from BASF Venture Capital, Octopus Investments, Entrepreneurs Fund and Finance Wales.

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