China flexible display developer Royole raises $58m

Royole was founded in 2012 and has offices in the US, Hong Kong, and Shenzhen. The company develops flexible display technologies and related consumer electronic products and sensors. With more than 700 patents, Royole also licenses its intellectual property rights and provides services and technology solutions to customers in industries associated with display applications, including consumer electronics manufacturers.

In 2014, Royole claimed it had developed the world’s thinnest full-color flexible displays with a thickness of 0.01 millimeter and a bending radius of 1 millimeter. The following year it began mass production of a foldable virtual mobile theater device known as Royole-X.

The company raised approximately $280 million across several funding rounds between 2012 and 2016. It secured a Series A round from Shenzhen Capital Group and Shenzhen Green Pine Capital in 2012 and a Series B led by IDG Capital the following year. The Series C came in 2015, provided by CITIC Capital, Green Pine, and AlphaWealth.

Last year, Royole raised around $80 million in pre-Series D round from strategic investor Warmsun Holding Group at a valuation of $3 billion.

The new capital will be used to expand production capabilities and support a RMB10 billion factory construction project. The company will also continue mass production of flexible displays, with a target of producing more than 500 million screens a year.

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• Topics
• Greater China
• Technology
• Expansion
• Industrials
• China
• Growth capital
• manufacturing