OTI Lumionics: Raises $55M in Series B Funding

OTI Lumionics Raises $55M in Series B Funding

• OTI Lumionics, a Toronto, Canada-based developer of production-ready materials for consumer electronics, raised $55M in Series B funding
• Backers included Technology Ventures, Samsung Venture Investment Corporation, UDC Ventures, Anzu Partners, and The Family Office of Lee Lau
• The company intends to use the funds to accelerate the adoption of its display materials by multiple display manufacturers that supply smartphone, tablet, laptop, AR/VR headset and TV brands
• OTILumionics provides quantum computing methods for industrially relevant materials design and apply them to commercial problems
• 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