Steve Kelly, CEO of SmartKem, said: “We are delighted to receive this funding boost, which will support the commercialisation of SmartKem’s technology platform with our strategic partners in Asia.”
The funding has been secured from SmartKem’s existing investment syndicate members, including BASF Venture Capital, Octopus Ventures and Entrepreneurs Fund.
The investment also follows a recent €1.8m EU grant awarded to SmartKem to support the commercialisation of the company’s technology platform.
SmartKem delivers semiconductor materials and technology for the solution-coat manufacture of thin film transistors at low temperatures on glass and plastic substrates. The bendable and flexible transistor arrays are used in the production of the latest generation of flexible OLED displays.
The company, which has its headquarters in North Wales and an 8000ft2 technology facility in Manchester UK, employs more than 35 people.
