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Kyulux

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Next-generation hyperfluorescence emitters for OLED displays

Fukuoka, JapanFounded 2015Semiconductors

Valuation $0–100M Latest valuation · 2023

Headcount <100 Current team size

Total funding $100–500M Disclosed equity funding

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About Kyulux

Kyulux, Inc. is a materials development company established in Fukuoka, Japan, in 2015 to commercialize next-generation technology for Organic Light Emitting Diode (OLED) displays and lighting. The company was co-founded by Professor Chihaya Adachi, Christopher Savoie, Junji Adachi, and Akira Minakuchi. Professor Adachi, a world-renowned chemist, is the inventor of Thermally Activated Delayed Fluorescence (TADF) and Hyperfluorescence technologies, which form the core of Kyulux's intellectual property. His research at Kyushu University led to the development of these third and fourth-generation OLED emitters, which can achieve 100% internal quantum efficiency without the use of rare and expensive heavy metals like iridium, a limitation of second-generation phosphorescent emitters. Kyulux was established as a university spin-out, built upon technology exclusively licensed from Kyushu University.

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The company's primary focus is the development and commercialization of its Hyperfluorescence™ technology. This system combines TADF molecules, which act as exciton generators, with fluorescent emitting materials. The energy from the TADF molecules is transferred to the fluorescent molecules, resulting in an emission that is highly efficient, has a narrow spectrum for high color purity, and is more cost-effective. This addresses key challenges in the OLED market, aiming to deliver displays with better color, longer lifetimes, and lower power consumption. To accelerate its material discovery process, Kyulux employs a proprietary AI-driven platform called Kyumatic™, which is based on a deep-learning system exclusively licensed from Harvard University.

Kyulux's business model revolves around developing and supplying these advanced emitter materials to OLED panel manufacturers for use in products ranging from smartphones to large-screen televisions. The company has established partnerships and joint development agreements with major industry players. In 2019, Taiwan's WiseChip launched the world's first commercial product using Kyulux's technology: a 2.7-inch yellow PMOLED display. The first commercial shipment of these materials began in April 2020. To prepare for mass production, Kyulux has entered into a capital and business alliance with Nippon Soda Co., Ltd., to establish a stable supply chain for its TADF materials.

The company has successfully raised significant capital through multiple funding rounds. Key investors include Samsung Venture Investment Corporation, LG Display, Japan Display (JDI), JOLED, and several venture capital firms. Major funding rounds include a $13.5M Series A in 2016, a $31.8M Series B in 2019, a $34.3M Series B-prime in 2021, and a $28.6M Series C in 2023. These funds are allocated to accelerate product development, strengthen its intellectual property portfolio, and build out its mass production capabilities. The company operates from its headquarters in Fukuoka, Japan, and has a North American subsidiary in Boston, USA.

Source: Dealroom company data