Canada-based OTI Lumionics have raised $55 million in its latest round. This round included several strategic and financical backers - including LG Technology Ventures, Samsung Ventures, UDC Ventures, Anzu Partners and more.
OTI says it is close to commercialization of its technology and materials, but the company is still some years before this will reach products. Towards the end of 2022 OTI started shipping its 2nd-gen ConducTorr Cathode Patterning Materials (CPM) to customers, but perhaps these were only sample shipments. OTI materials are used to create OLED displays with under-the-display camera and face unlock technologies.
This funding round however is great progress and will hopefully indeed enable the company to scale up and commercialize. These funds will probably also help OTI to develop new novel materials for OLED displays.
If you want to learn more about OTI and the CPM technology, we posted an interview with OTI Lumionics's CEO in 2021.