|Novaled AG, a leading OLED developer for the new generation of lighting and display products, has closed its third round of financing, securing EUR 8.5 million.
Based in Dresden, Germany, Novaled will use the proceeds of this financing round to extend the commercialization of its energy-saving Novaled PIN OLED technology in the lighting and display field.
The funding was exclusively provided by existing shareholders of the company. Participants to this round were eCAPITAL, TechnoStart, KfW and TUDAG, all from Germany, as well as Credit Agricole Private Equity, TechFund and CDC Innovation from France.
“Since we joined the Novaled shareholding at the end of 2005, the management succeeded to develop the company into a major player within the OLED-field”, says Paul-Josef Patt, CEO of eCAPITAL. ”We are happy to support the company as lead investor of this round in further strengthening its position as a key provider of technology and materials for energy saving lighting and display applications.”
“We are proud that in the context of the current financial market environment our shareholders demonstrate their trust into the Novaled team and management by providing substantial equity financing for the company”, says Harry Boehme, CFO of Novaled AG. “These funds will support our strategy to create value to our customers by providing cutting-edge solutions for energy efficient and long living organic electronics applications.”
Novaled AG is a world leading company in the OLED field specialized in high efficiency long lifetime OLED structures and an expert in synthetic and analytical chemistry. It has developed long-term partnerships with major OLED players worldwide and has a strong IP position in OLED technology based on more than 440 patents granted or pending.