Optical materials supplier closes financing round of $1.5 million
Braggone announced that it has raised a new financing round to support ramp-up of its production. The new funding of approximately $1.5 million was provided by existing backers of the company and will be used to further facilitate its production site in Finland. Braggone manufactures optical materials that enhance competitive differentiation in global markets. Its materials are targeted at innovation-driven customers in the advanced semiconductor and flat panel display industries.
The company's material technology - its nano-manipulation - allows a flexible modification of the inorganic-organic polymer material properties to suit specific applications. These flexible yet stable materials coat or print onto substrates at greater efficiency, lower temperatures and higher yields.The company's current materials products are applied in digital displays used on current and next generation mobile phones and televisions, sophisticated semiconductors and logic chips for digital cameras and console game panels, and flash memories for PCs and MP3 devices.
"Braggone has successfully completed its product development and is now ramping up production to meet strong customer demand for our innovative material products that significantly improve and enable manufacturability, durability and performance of our client's products," said Ari Karkkainen, director of product development of Braggone. "We are delighted with the confidence shown by the strong financial support of the existing investors in our commercialization phase."
"We are excited to continue supporting Braggone in its commercialization process, pursuing a technology roadmap that should see it become a key supplier in the information electronic materials market," said Aeneas Mackay of Montrose Partners LLP. "We trust that flat panel display, optoelectronic and information electronics manufacturers will gain significant performance and manufacturability benefits through Braggone's novel material and process technologies."
Braggone has strong working relationships with several top tier microelectronic customers in joint development pilot programs. The company will use this round of funding to expand their manufacturing facility and qualify for ISO certification.
