Toronto-based startup OTI Lumionics has announced that it has received a strategic investment from LG Technology Ventures – the venture capital investment arm of LG Group.
According to OTI, the investment will be used to help accelerate the adoption of the firm’s materials in mass production, including its ConducTorrTM CPM solution for under-display cameras.
Earlier this month, OTI announced its latest version of ConducTorrTM 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.
A statement by Michael Falcon, investment director for LG Technology Ventures reads; “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.”
LG’s investment is said to be 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.
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