OLED Materials Innovator CYNORA Secures US$25M in First Closing of Series C Round; Names Adam Kablanian as New Chief Executive Officer
Marking the initial closing of its Series C funding round, CYNORA today announced that it has secured US$25M in financing from investors in Asia, Europe and the US. Germany-based CYNORA is an emerging materials leader with a novel technology to produce ultra-high-efficiency emitter systems required for next-generation Organic Light Emitting Diode (OLED) displays. The company has raised US$80M since its inception in 2008. Final closing of the C round with an additional investment is expected shortly.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190513005032/en/
Adam A. Kablanian (Photo: Business Wire)
In a related move, CYNORA appointed Adam Kablanian as Chief Executive Officer (CEO). Kablanian joins the company as part of the C round. He succeeds 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.
A Syndicate of Global VCs and Strategic Investors
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. They include: MIG Funds, a leading German VC firm, and Wecken & Cie, based in Switzerland. Previous investors include LG Display and Samsung Venture Investment Corp.
Dan Rubin, a partner with SRF, joins CYNORA’s board.
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 will radically improve the efficiency of blue emitters, which are currently the performance-limiting components of the OLED device. Boosting the efficiency of blue emitters is a top priority for display manufacturers. Not only can ultra-high-efficiency blue emitters slash power consumption by up to 50 percent, they can also reduce the manufacturing costs. CYNORA’s proprietary TADF blue emitter solution, now nearing commercialization, has the proven capability to enable low-power advantages, with performance metrics that lead the industry.
New Leadership to Accelerate Growth
Kablanian, a multi-time technology company CEO, will lead CYNORA from the company’s HQ in Germany. Throughout his career, he has built several successful global companies around disruptive science-based technologies, creating value for customers and shareholders. With Virage Logic, he took a pioneering semiconductor memory design IP solution to the global market, breaching commercialization barriers and enabling marquee customers with a differentiated embedded memory technology.
As CEO of PlasmaSi, Kablanian entered the OLED industry as the new display technology seized the lead over LCDs as the preferred choice for smartphones. Today, the trajectory for OLEDs continues. Display Supply Chain Consultants (DSCC) predicts that the market for OLED displays will nearly double in size over the next four years, soaring from US$28.7B this year to US$52B in 2023. Beyond offering spectacular pixel quality on smartphone displays and TVs, OLED technology also enables radical new form factors, like foldable and roll-able devices. CYNORA’s technology is an essential contributor to the sustained innovation.
Kablanian holds a B.A. in Physics from the University of California at Berkeley and an M.S. in Electrical Engineering from Santa Clara University in California.
EXECUTIVE STATEMENTS
“We’re pleased to welcome the new investors to CYNORA. As a longtime investor, we have watched the company become a valued OLED industry player under Gildas’ stewardship. We appreciate his commitment to CYNORA’s success. We are fortunate to attract an executive of Adam’s caliber to lead CYNORA. He brings significant expertise in productizing complex technologies and growing international startups with an emphasis on partnering and customer relationships. We look forward to working with him and the executive team to continue the exceptional progress of this venture.” ~ Kristian Schmidt-Garve, Partner, MIG Funds & Chairman, CYNORA
“SRF selected CYNORA to make its first investment in the display industry. Displays are the interface between consumers and information so there’s relentless innovation to improve the viewer experience and drive penetration into new applications. OLED is the future of display technology. It can radically reduce power consumption and give shape to flexible, foldable and even roll-able devices. Our investment focus is on critical technologies that enable this ecosystem. That’s why we’re delighted to support the CYNORA team.” ~ Dan Rubin, Partner, SRF Partners Fund LLC
“Helping emerging technology companies become market leaders is my passion and my forte. And when the technology promises meaningful innovation for an industry as large as information displays, it’s especially exciting. That’s what drew me to CYNORA. There’s work to do to fulfill customers’ demanding specs for their next-generation OLED displays. But our roadmap is aggressive, our talent is strong, and our financials are solid. I’m grateful for the opportunity to lead this next phase of CYNORA’s growth.” ~ Adam Kablanian, CEO, CYNORA
At Display Week in San Jose, Calif., CYNORA executives will present the latest developments on its TADF technology in three talks at the conference. Hosted by the Society for Information Display, the conference is the premier gathering of executives from the global display ecosystem.
About CYNORA
CYNORA is an emerging materials leader in the global information display industry. The company has pioneered a unique technology to produce ultra-high-efficiency emitter systems required for next-generation Organic Light Emitting Diode (OLED) displays. Known as Thermally Activated Delayed Fluorescence (TADF), the technology promises to reduce power consumption by as much as 50 percent. Founded in 2008 and headquartered in Bruchsal, Germany, CYNORA is privately held and supported by a syndicate of global investors. www.cynora.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20190513005032/en/
Contact information
cynora GmbH
Nicole Rauenbühler
m: +49 7251 919 670
email:
rauenbuehler@cynora.com
Agency
Jane Evans-Ryan
Genuity Communications
m:
+1 408-489-6391
email: jane@genuitypr.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Gilead Announces Latest Data in Ongoing HIV Cure Research Program23.7.2019 23:00:00 EEST | Press release
Gilead Sciences, Inc. (NASDAQ: GILD) today presented results from two studies of investigational toll-like receptor 7 (TLR7) agonists as part of an HIV cure research program. The Phase 1 and preclinical study results demonstrate that the TLR7 agonists vesatolimod (GS-9620) and GS-986 can induce immune activation and follow earlier preclinical research suggesting that TLR7 agonists can potentially lead to viral remission, as part of combination regimens. The HIV viral reservoir is present even in virologically suppressed individuals and its elimination is regarded as a main obstacle to achieving a cure. The data were presented at the 10th International AIDS Society Conference on HIV Science (IAS 2019) being held in Mexico City. “While treatments have improved dramatically, people living with HIV still face a lifetime of therapy and potential complications. That reality drives our ongoing pursuit of a cure for HIV,” said Diana Brainard, MD, Senior Vice President, HIV and Emerging Viruses
Moody’s Analytics Wins Best Reporting System Provider in Waters Rankings23.7.2019 18:30:00 EEST | Press release
Moody’s Analytics, a global provider of financial intelligence, has won the award for Best Reporting System Provider in the 2019 Waters Rankings. We earned this recognition for our regulatory reporting solution. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190723005679/en/ For banks and insurers, staying on top of regulatory changes is critical. Our end-to-end solution handles the entire reporting process, producing 3,000 different regulatory reports covering more than 50 jurisdictions. It automatically delivers all required updates well in advance of the relevant deadlines and makes it easy for clients to review, adjust, audit, and validate their reports. The Moody’s Analytics regulatory surveillance team boasts a wealth of experience in both local and international domains going back decades. They monitor more than 100 supervisor websites to ensure that our clients receive the updates they need in a timely fashion. “Regu
Gilead Presents New Findings on Profile of Descovy® for Potential Use as HIV Pre-exposure Prophylaxis Compared With Truvada®23.7.2019 18:00:00 EEST | Press release
Gilead Sciences, Inc. (NASDAQ: GILD) today presented additional results from the DISCOVER trial evaluating an investigational use of Descovy (emtricitabine 200 mg and tenofovir alafenamide 25 mg tablets; F/TAF) for HIV pre-exposure prophylaxis (PrEP). In a sub-analysis of the DISCOVER trial, Descovy reached intracellular drug concentration levels above the estimated protective threshold significantly more quickly than Truvada (emtricitabine 200 mg and tenofovir disoproxil fumarate 300 mg tablets; F/TDF), and additional pharmacokinetic data confirm that these drug concentration levels persist longer than Truvada. The results were presented at the 10th International AIDS Society Conference on HIV Science (IAS 2019) being held in Mexico City. “Gilead is committed to driving advances in HIV prevention and supporting broader public health initiatives that are designed to reduce HIV infections,” said Diana Brainard, MD, Senior Vice President, HIV and Emerging Viruses, Gilead Sciences. “These
Velodyne Lidar Acquires Mapper.ai for ADAS Launch23.7.2019 18:00:00 EEST | Press release
Velodyne Lidar, Inc. today announced it has acquired mapping and localization software as well as intellectual property assets from Mapper.ai. Mapper technology will enable Velodyne to accelerate development of Vella™, breakthrough software that establishes its directional view Velarray™ lidar sensor. The Velarray is the first solid-state Velodyne lidar sensor that is embeddable and fits behind a windshield, as an integral component for superior, more effective advanced driver assistance systems (ADAS). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190723005257/en/ In addition to ADAS, Velodyne will incorporate Mapper technology into lidar-centric solutions for other emerging applications, including autonomous vehicles, last-mile delivery services, security, smart cities, smart agriculture, robotics, and unmanned aerial vehicles. (Photo: Business Wire) Mapper’s entire leadership and engineering teams will join Velodyne, bol
Wealthy Americans are increasingly willing to invest, new UBS survey finds23.7.2019 17:12:00 EEST | Press release
US high net worth individuals and business owners are expressing growing intentions to invest as US markets continue to hit record highs in 2019, according to UBS Global Wealth Management's new quarterly Investor Sentiment survey. The survey, which polled more than 3,800 wealthy investors and entrepreneurs in 17 countries, also shows US investors remain positive on the U.S. stock market but continue to rank politics and the national debt as top concerns. Fifty percent of US investors see a diversified portfolio as a hedge against US-China trade tensions specifically, in line with UBS GWM's own views, compared with 41% who favor cash. Filippo Ilardi, US Client Strategy Officer at UBS Global Wealth Management, says: "We are pleased to see a substantial increase in investors willing to put more money in the market. Wealthy Americans are concerned about the political environment and US-China trade tensions but we are encouraged that they see diversification as an important way of managing
Andersen Global Expands into Ghana23.7.2019 16:30:00 EEST | Press release
Ghana law firm, Sam Okudzeto & Associates, signed a collaboration agreement with Andersen Global, marking Andersen Global’s presence in 13 African countries and over 51 countries worldwide. Located in the capital of Accra, Sam Okudzeto & Associates is one of the largest law firms in Ghana. For the past 48 years, the firm has provided legal advice and guidance in the corporate and commercial areas, including patents and trademarks, mergers and acquisition, tax advisory, corporate banking, international trade and investment, debt recovery, mining and mineral law, industrial and labor, aviation, maritime law, petroleum oil and gas, and intellectual property. Sam Okudzeto & Associates founder and Managing Partner, Sam Okudzeto and Nene Amegatcher, have led the team since the establishment of the firm until Nene Amegatcher was elevated to the Supreme Court. The firm now has four partners and 18 lawyers who have gained international reputation for their keen knowledge and experience with Alt
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom