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Flexible Electronics News

SmartKem Secures Additional Investment

BASF Venture Capital, Octopus Ventures and Entrepreneurs Fund add £3m in funding.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

SmartKem has received further investment to support its scale-up plans. An additional £3m of funding has been secured from SmartKem’s existing investment syndicate members, including BASF Venture Capital, Octopus Ventures and Entrepreneurs Fund. The funding represents a further expression of confidence in SmartKem’s operations from the investors that have supported the company for over two years.
 
The investment will escalate the company’s continued growth in Asia, where SmartKem’s truFLEX technology platform is currently under adoption by key manufacturers in the display industry for the manufacture of a new generation of lightweight and flexible OLED displays.
 
“This investment will add momentum to our existing scale-up activity and help to forge further commercial partnerships,” Steve Kelly, CEO of SmartKem, said.
 
The additional investment reinforces the syndicate’s commitment to SmartKem. The investment also follows a recent €1.8million EU grant awarded to SmartKem to support the commercialization of the company’s technology platform, specifically with display makers in Asia.

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