Belgium-based chemicals group Solvay has helped Polyera, a US-based supplier of high-performance functional materials for the electronics and opto-electronics industries, has raised $24.5m.
Solvay was joined in Polyera’s series C round by Chengwei Capital and Tsing Capital on April 5.
Polyera’s core technology enables the fabrication of semiconductor-based products on flexible substrates such as plastic. As a result, products such as flat panel displays or solar panels which were traditionally manufactured with glass can be made much lighter, thinner and more robust
The company had previously raised between an estimated $12.2m and $14.6m. Last year it received $4.1m, according to a Securities and Exchange Commission filing.
In 2010 it raised $3.1m of a planned $5.1m round, according to another filing. The company said that same year Solvay had backed it as part of a $4m series B round.
In 2009 it raised $1m of a planned $1.5m filing, and secured more than $4m in two rounds in 2007 and 2008. The company was founded in 2005.