US-based reflective display technology developer Clearink Displays has raised approximately $7m in funding from backers including electronic materials manufacturer Jinfu New Material.
Jinfu was joined by fellow China-based investors LangSheng Capital and NEY, as well as Altus Ventures and CrossPacific Capital.
The round, the second to be raised by Clearink, took the company’s total funding to more than $10m, and it aims to close up to $6m more by the end of July 2016.
Founded in 2012, Clearink is working on reflective display technology that is used in electronic shelf labels, wearable devices and mobile devices. It claims the technology uses a fraction of the energy that conventional LCD screens do
Clearink will put the funding toward product development and the formation of joint development agreements with partners that will help it to launch the first mass produced product to use its displays.
Frank Christiaens, Clearink’s CEO, said: “Clearink is emerging as the technology leader in an exciting new display category that is about to explode. Our current products enable mobile devices including wearables that are sunlight readable and have a very long battery life.
“The interest in our technology both from customers and investors is tremendous and we are gearing up for mass production.”