Helio Display Materials, a digital display company born out of the “first” joint venture between Oxford and Cambridge universities, has raised $4.75m (£3.55m) in Series A finance in a funding round led by Longwall Venture Partners and BGF.
Helio will use the fresh funding to drive a significant expansion of the company team and will also fund a move to custom-built labs at the Wood Centre for Innovation in Oxford.
As part of the expansion, Helio will also be announcing two high-profile appointments to its management team.
Oxford-based Helio creates proprietary materials for digital screen displays, with custom technology to solve problems associated with standard LCD and OLED screens.
The company claims that its uniquely manufactured materials can display richer and less filtered down colours, producing a greater overall visual experience, whilst using significantly less power.
“Helio is on a mission to use our world-leading perovskite science to step up the performance and efficiency of displays,” said company CEO, Simon Jones.
“This fundraising marks a change of gear for Helio, enabling us to significantly grow our capacity to design products and engage with partners in the display supply chain. I would like to thank and acknowledge our enormously supportive investors who share our vision of a bright future for perovskites in displays.”
Helio plans to partner with companies in the display supply chain to tap into the display module market, which the company estimates to be worth $120bn (£89.9bn).