Organic semiconductor laser company KOALA Tech completes Series B fundraising. First investment by a foreign investor.
PR Times(Pressrelease in Japanese)
■Kyushu Recovery Fund and Propagator Ventures make new investment KOALA Tech Inc. is excited to announce the successful completion of our Series B fundraising, totaling 350 million yen. This round included a third-party allotment of capital to the Kyushu Recovery Fund and Propagator Ventures, marking a significant milestone in our growth journey.
The second close of this round saw new investments from the Kyushu Recovery Fund, supported by the Regional Economy Vitalization Corporation of Japan, and Propagator Ventures AS, a Norwegian venture capital firm specializing in deep tech startups. The Kyushu Recovery Fund, aimed at rejuvenating the Kyushu region's economy, draws participation from a broad spectrum of financial institutions in Kyushu. Propagator Ventures, known for backing technologies with the potential to transform society, has chosen KOALA Tech for its first investment in Asia and as part of its second fund. This brings in an international shareholder to our company for the first time.
■New laser that realizes small and light smart devices
Our focus at KOALA Tech is on advancing wearable technologies like smart glasses, aiming to make them more compact and lightweight. Organic semiconductor lasers, a pioneering technology we have been developing since the world's first academic demonstration by Kyushu University's Professor Chihaya Adachi in 2019, are crucial for this advancement. These lasers are integral for creating smaller, lighter "smart and lightweight devices," serving as efficient light sources for displays and sensors.
As display light sources, our lasers can significantly enhance image quality.
For sensing applications, including biometric authentication, eye tracking, and vital measurement, they offer compact and lightweight solutions.
Moreover, our technology's flexibility to select wavelengths across the visible to near-infrared spectrum, and its ability to integrate multiple light sources in various configurations, promise enhanced measurement accuracy and further miniaturization of devices.
In March 2022, our innovation and global market potential led to our selection as one of the 33 companies in the Ministry of Economy, Trade and Industry's J-Startup KYUSHU program.
KOALA Tech is committed to driving innovation in the wearable tech space, reshaping the future of smart devices with our advanced organic semiconductor laser technology.
■Comments from new investors
REVIC Capital (a subsidiary of Regional Economy Vitalization Corporation of Japan)
Representative Director Hiroaki Sakamoto
KOALA Tech is advancing the development of organic semiconductor lasers, a next-generation laser technology originating from Kyushu University. This technology has the dual capability of enhancing image quality and miniaturizing and lightening devices. Recently, their research and development efforts are focused on integrating organic semiconductor lasers into wearable devices such as smart glasses. We anticipate that this initiative will contribute to the creation of industries for the next generation. Furthermore, by implementing university-originated technologies in society, we aim to contribute to the economic revitalization of the surrounding regions.
Propagator Ventures AS
Partner Andreas Emblem
We are very pleased that Koala Tech is our first investment in Japan and Asia. Our investment follows a long dialogue with the Koala team. Their ability to build a convincing case for the promise of OSLDs in a wide range applications, their results so far and the world-class credentials of Prof. Adachi´s research group at the Kyushu University convinced us that this was a good investment opportunity. Koala Tech has the potential to transform several categories of advanced electronics, by taking organic laser diodes from academic dream to commercial reality. We look forward to follow the progress and play our role in supporting the Koala Tech team in their endeavors, particularly as they consider the worldwide potential of Koala Tech´s novel technology.
KOALA Tech Inc. Representative Director Fatima Bencheikh
We are deeply grateful to both our existing and new shareholders for their unwavering support and confidence in our Series B funding round. The vision of a smarter society, where people enrich their lives with wearable devices in a seamlessly integrated real and virtual world, is rapidly becoming a reality.
At the forefront of this evolution is our cutting-edge organic semiconductor laser technology. We are on track to be the world’s first in commercializing this technology, which is poised to become vital for wearable devices due to its outstanding characteristics. The potential for our technology spans across various sectors, including displays, healthcare, and biometric authentication, and the expectations are indeed high.
At the recent International Display Workshops in Niigata City, we shared significant development milestones that mark improvements in performance. With the funds secured in this round, we are set to further accelerate our technological advancements and strengthen strategic alliances. Our goal is clear: to achieve commercialization at the earliest possible opportunity.
Thank you once again for your belief in our vision and for joining us on this exciting journey towards a more connected and advanced future.