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Commercializing Innovative, Patented Reflective Displays
SANTA CLARA, CA --(Marketwired - March 29, 2016) - CLEARink today announced that it has closed a second round of funding. The new investments will enable the company to commercialize its innovative and patented reflective display technology in 3 different applications areas: Electronic Shelf Labels (ESL), Wearable Devices, and Mobile Devices. CLEARink's lead customer intends to launch their first ESL product in mass production, at the end of 2016.
The initial closing for the current funding round added up to a total of approximately US$7 million, with plans to close up to an additional US$6 million in the next 4 months. The investors in the initial closing include Jinfu, a listed advanced materials company from Suzhou, LangSheng Capital and NEY from Shanghai, as well as Altus Ventures and CrossPacific Capital from Vancouver, Canada.
"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," said Frank Christiaens, CEO of CLEARink Displays. "The interest in our technology both from customers and investors is tremendous and we are gearing up for mass production."
The new funding will help accelerate the growth of the company, particularly by allowing it to expand its Joint Development Agreement (JDA) efforts with its partners and enable the launch of its first mass produced product. The new funding will also be used to further develop the product roadmap aimed at producing an ultra low power, full color display that can run full motion video content.
About CLEARink Displays, Inc.
CLEARink is a leader in reflective display technology for Electronic Shelf Labels (ESLs), Wearables, and mobile devices. CLEARink's TIR technology is a superior alternative to existing reflective displays, providing unparalleled video and color representation, using a fraction of the energy consumption of LCD displays, with a highly competitive cost structure, the TIR technology from CLEARink is patent protected. Founded in 2012, the company has raised more than US$10 million in financing from top-tier venture capital firms and is headquartered in Santa Clara, California.
About Jinfu New Material Co. Ltd
Founded in 1998, JinFu successfully launched its IPO on the Shenzhen Stock Exchange in 2010. With 14 subsidiaries and 5,000 employees, Jinfu specializes in electronic materials for optical films and display modules, and has in-house R&D and production capabilities.