Toronto-based OTI Lumionics has secured an investment from LG Technology Ventures, the venture capital arm of South Korea’s LG Group. No financial terms were disclosed for the investment, which is part of a bigger round backed by Anzu Partners, Draper Dragon and a consumer electronics brand. OTI is a developer of advanced materials for consumer electronics.
TORONTO, Aug. 26, 2020 (GLOBE NEWSWIRE) — OTI Lumionics, a leader in the development of advanced materials for consumer electronics, today announces it has received a strategic investment from LG Technology Ventures – the venture capital investment arm of LG Group.
This investment will be used to help accelerate the adoption of OTI’s materials in mass production, including its ConducTorr™ CPM solution for under display cameras.
Earlier this month, OTI announced its latest version of ConducTorr™ Cathode Patterning Material (CPM) is ready for mass production and will start shipping in Q4 2020 for use in next generation mobile devices and other displays.
“We are thrilled to have LG Technology Ventures as a valuable partner for the development of our materials as we gear up for mass production,” said Michael Helander, Co-Founder and CEO of OTI Lumionics. “It is great validation to have a leading brand like LG partner in our efforts to create the most advanced display solutions in the industry.”
Manufacturers are looking for innovative solutions to speed the development of transparent displays. OTI focuses on cathode patterning to enable new display applications for OLEDs, including transparent displays, under display cameras and sensors, foldable displays, and automotive displays.
“LG Technology Ventures has been closely monitoring the progress of OTI and is excited to now become an investor. We look forward to working with OTI to help commercialize its technology in multiple display applications,” said Michael Falcon, investment director for LG Technology Ventures.
The investment from LG Technology Ventures was part of a larger strategic funding round, which including participation from another leading consumer electronics brand as well as existing investors Anzu Partners and Draper Dragon.
For more on OTI, please visit otilumionics.com.
For more on LG Technology Ventures, please visit lgtechventures.com.
About OTI Lumionics:
OTI works with the largest mobile device and display manufacturers in the world to develop advanced materials for best-in-class OLED displays. It develops advanced materials by design, using quantum simulations, machine learning and real-world in-house testing in pilot production. It is the first to apply quantum computing to commercial size materials design problems. OTI is currently focused on developing key enabling cathode patterning materials for OLED displays that will be used in next-generation consumer electronics and automotive. For more information, visit otilumionics.com.
About LG Technology Ventures
LG Technology Ventures was established in 2018 and is the venture capital investment arm of the LG Group of South Korea. The LG Technology Ventures team consists of experienced investors, entrepreneurs, technologists, and industry domain experts. Currently, LG Technology Ventures is managing over $400 million of fund assets and invests in early-stage information technology, automotive, manufacturing, life-sciences, energy, and advanced materials companies. The company strives to create value to its portfolio companies by helping them develop strategic partnerships with various LG Companies.