Germany-based OLED lighting developer Inuru announced that it has raised $10 million, from Aper Ventures, Adamed Technology (the venture capital arm of Polish pharmaceutical company Adamed Pharma), ARIA, and a group of business angels. Inuru says that the new funds will enable it expand into new industries with its interactive OLED labels.
Inuru says it is now focusing on two sections: medication and entertainment. Inuru's main focus for the medication industry is to use its OLED labels to assist patients in learning the expiration date on medication and to adhere to the prescribed guidelines. The company says that the repercussions of non-adherence and medication mismanagement contribute to an estimated $600 billion in preventable healthcare expenses and 325,000 annual fatalities.