UK's SmartKem, a developer of high-performance organic backplanes for flexible displays, announced that they completed a €3 million series A funding round from BASF Venture Capital, Octopus Investments, Entrepreneurs Fund and Finance Wales.

SmartKem plans to use those funds to further develop their organic material range and accelerate their technology towards commercialization.

In November 2013, SmartKem announced that they signed a joint-development agreement with a major Asian display OEM. Under the agreement, SmartKem and the display maker will customize Smartkem's p-FLEX organic semiconductor inks for solution-based flexible TFT backplane technology.

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