E Ink producer Plastic Logic gains new investors

[Colin Dunstan]

Cambridge (UK)-based Plastic Logic raised another round worth USD $24m which will be used to commercialize the company's flexible 100ppi 800x600 active-matrix displays. Among the new investors are: BASF Venture Capital, Intel Capital, Morningside Technology Ventures and Quest for Growth.

Stuart Evans, CEO, said "We are excited to have reached this milestone as a company and receive this investment from both new and existing shareholders. These funds will accelerate Plastic Logic's move to commercial testing of prototype products and to finalise our manufacturing process for transfer to mass production. We are pleased that Morningside group, with its deep and broad experience in China's technology and media sectors, will help Plastic Logic develop its China business." "Materials will play a major role in the further development of the printable electronics market, and BASF is pleased to be associated with a leading edge company in this field like Plastic Logic," said Darren Budd, BASF Venture Capital's investment manager.

Related: Next generation E-Ink displays in the works!, Signs of the first e-newspaper device