OTI Lumionics raises $55M in Series B funding and completes production qualification of its materials

TORONTO — OTI Lumionics, a developer of production-ready advanced materials for consumer electronics, announces an oversubscribed $55 million USD Series B financing from LG Technology Ventures, Samsung Venture Investment Corporation, UDC Ventures, Anzu Partners and The Family Office of Lee Lau. The new funding will accelerate the adoption of OTI’s display materials by multiple display manufacturers that supply all major smartphone, tablet, laptop, AR/VR headset and TV brands.

“Eliminating notches and cut-outs to maximize screen real estate is a major driver for next-generation device designs from multiple leading brands. Under display cameras and sensors are essential to realizing this design goal, but it is currently incredibly challenging to mass produce these types of displays without trading off performance. Our unique CPM™ display materials were designed to solve these specific challenges and have recently been customer qualified for mass production of next-generation smartphone displays,” said Michael Helander, President and CEO of OTI Lumionics.

“OTI has emerged as a key enabler of new materials that complement the OLED stack and are expected to enhance the ecosystem. We are excited to join the team as an investor in this round and look forward to broadening our dialogue,” said Josh Epstein, Managing Partner of UDC Ventures.

The company’s display materials were designed using a proprietary quantum and AI-driven computational platform that incorporates closed-loop feedback from in-house automated pilot production testing and application engineering. The end-to-end product development capabilities of OTI allow new materials to be designed to fit existing production processes rather than having customers significantly alter their production processes and equipment to fit a new set of materials.