FREMONT – CLEARink Displays has closed a $5 million Series C funding led by Vestech International, an investment fund backed by a number of Asian display manufacturers. Existing investors also participated in this round. Founded in 2012, CLEARink had previously raised approximately $10 million in previous rounds. The current round of $10 million is half subscribed and the company expects to close the rest of this round shortly.
The new round of funding allows the company to complete trial manufacturing and commence mass production next year.
CLEARink demonstrated its display prototypes for the first time ever at SID’s DisplayWeek 2017 and won the prestigious Best in Show Award from the industry’s most distinguished judges. The company has commenced trial production in an LCD factory and expects to have samples and evaluation kits later this year with the intent of mass-producing its revolutionary displays early next year.
“We believe that we have picked a winner with CLEARink; their revolutionary display technology is being sought by several market segments that require low power, sunlight readable displays offering color and video,” said Mr. H. Liu, Managing Partner of Vestech. “Our customers in the eSchoolbook and wearables markets are eagerly awaiting CLEARink’s products.”
CLEARink’s revolutionary display technology is based on the phenomenon of Total Internal Reflection (TIR) in combination with single particle electrophoretic technology. The displays are ultra low power, thin as paper, feather light, sunlight readable, color and video capable. Targeted markets include eSchoolbooks, wearables and other mobile devices, Electronic Shelf Labels (ESLs) and others.
“Being funded by strategic investors and potential customers is a great testament to the potential for our technology,” said Frank Christiaens, CEO of CLEARink Displays. “We have had overwhelming response from the market and have commenced trial production in a LCD factory in Asia.”