August 10, 2020 OLED Display Startup Mattrix Technologies Opens $3M Financing Round With Second Investment From JSR Corporation
GAINESVILLE, Fla.--(BUSINESS WIRE)--Mattrix Technologies, Inc. (“Mattrix”), a US-based startup developing groundbreaking AMOLED backplane solutions for the flat-panel display industry, announced that JSR Corporation (“JSR”) has closed a second investment into the company. The $1.5M investment will be used in part to support the joint development of solution-based conductive inks for use in a new class of backplane transistor that promises to bring the true-to-life viewing experience of ultra-premium OLED products to everyday consumers. “We are very excited about the future of this collaboration.” Mattrix’s award-winning technology will allow panel manufacturers to repurpose aging LCD fabs to instead produce higher-margin, premium OLED products, while saving hundreds of millions of dollars in new capital costs. Their novel pixel architecture can boost the power efficiency of OLED displays more than 10%, while doubling product lifetime. The larger emissive aperture also enables brighter displays that can be viewed in direct sunlight for automotive and interactive signage applications. “Since the 1980s, JSR has been developing and supplying materials that contribute to breakthroughs in display technology. Mattrix's technology is also expected to help drive the leap forward in OLEDs, and JSR is pleased to be able to collaborate with them,” said Dr. Kuriyama, Director of Labs at JSR. Current investors in Mattrix also include Samsung Venture Investment Corporation (“Samsung Ventures”), the global investment arm of the Samsung Group, and UF Innovate | Ventures, the newly established investment fund of the University of Florida. Mattrix is targeting additional institutional investors for the remaining $1.25M to close this round. Collaborative partners interested in investing or licensing the company’s technology for commercialization should contact the CEO Max Lemaitre. “We have developed a close partnership with JSR since their investment in early 2019. Their continued support bolsters our collaboration and will allow us to make significant strides together in our materials development program,” said Max Lemaitre, CEO of Mattrix Technologies. “We are very excited about the future of this collaboration.” Mark Long, Director of Incubation Services at the University of Florida stated, “Mattrix is rapidly expanding and changing the market with their new technology. This partnership with JSR demonstrates the outstanding efforts of Matrix’s management and staff. We look forward to assisting the company with further expansion.” About Mattrix Technologies Founded in 2018, Mattrix Technologies is a semiconductor device company developing breakthrough pixel architectures for flat-panel displays. The company has pioneered a revolutionary OLET (organic light emitting transistor) technology to enable the cost-effective production of large-area displays. OLET is a new paradigm for emissive displays that solves the backplane challenges that have limited the adoption of large-area OLED displays. At the heart of this breakthrough is a proprietary pixel architecture that combines the drive transistor, storage capacitor and light emitting layers into a single element. This enables a full-aperture, bottom emission display that simplifies the manufacturing process, increases product lifetime and panel brightness. For more information, visit www.mattrixtech.com. About JSR Corporation JSR Corporation is a multinational company employing more than 9,000 people worldwide and a leading materials supplier in a variety of technology driven markets, driving materials innovation and creating value through materials to enrich society, people and the environment. JSR's global network is headquartered in Tokyo (Japan) and has factories and offices in Europe, USA, China, Taiwan, Korea, and Thailand. JSR is a research-oriented organization that pursues close collaborations with leading innovators in a number of industries that are a key to the present and future welfare of human society: life sciences, synthetic rubbers, electronic materials, display and optical materials. For more information about JSR Corporation, please visit https://www.jsr.co.jp/jsr_e/. About UF Innovate | The Hub UF Innovate | The Hub is a University of Florida business incubator with a mission to build, drive and support innovation. The incubator is recognized as a major catalyst in helping propel the university city of Gainesville, FL to become one of the top energized tech communities in the Southeast. The “Hub” of the North Central Florida entrepreneurial ecosystem has a global outreach. The 100,000 sq. ft. incubator provides state-of-the-art wet laboratory, light manufacturing and office space, with advising, mentoring, education, programs and amenities to help entrepreneurs and innovators succeed. Resident and affiliate programs are available to assist startups, small business and growth companies. For more information, visit UF Innovate | The Hub.