US-based flat panel display technology developer Kateeva completed an $88m series E round yesterday with contributions from several corporate investors.
The corporate backers in question are Samsung Venture Investment Corporation (SVIC) and TCL Capital, subsidiaries of electronics manufacturer Samsung and conglomerate TCL; electronic display technology producer BOE Technology Group and semiconductor producer Veeco Instruments.
The round was filled out by Cybernaut Venture, GP Capital Shanghai, Redview Capital, Sigma Partners, Spark Capital, Madrone Capital Partners, DBL Partners and New Science Ventures.
Founded in 2008, Kateeva has created technology that uses inkjet printing to help produce ultrathin organic light emitting diode (OLED) displays, instead of the glass substrates traditionally used for electronics displays.
Kateeva plans to use the funding for research and development, to expand its manufacturing facility and to enhance its customer service capabilities in Asia. Representatives from BOE, TCL Capital and Redview Capital will join its board in conjunction with the round.
Alain Harrus, Kateeva’s chairman and CEO, said: “Kateeva started enabling this “freedom from glass” display innovation in 2008 when our founders began pioneering a superior mass-production equipment solution for OLEDs.
“Today, Kateeva tools are positioned in top OLED manufacturing fabs. Our investors were stalwart partners along the way. We’re grateful for their support, and we welcome our new investors.”
The company has now raised about $200m in total, having raised $38m in a 2014 series D round backed by SVIC, Veeco, Sigma Partners, Spark Capital, New Science Ventures, Madrone Capital Partners and DBL.
– Photo courtesy of Kateeva, Inc.