University of Cambridge spin-out Plastic Logic has announced that it has successfully raised £6.3 million of private finance . The funds will be used to expand the current team of 22 and accelerate technology development and commercialisation.

Plastic Logic was founded in 2000 to exploit new technology and processes which use inkjet printing to make active electronic circuits from advanced plastic materials. The technology was developed by Professor Richard Friend and Dr Henning Sirringhaus at the University's Cavendish Laboratory.

The company now has a growing portfolio of patents based on this core technology which has the potential to change revolutionise key segments of the semiconductor industry by lowering capital costs and simplifying manufacturing. Plastic Logic's technology has a wide range of applications including flat panel displays, electronic paper, electronic labels, intelligent packaging and wearable computing.

The new funding round was led by PolyTechnos Venture-Partners but founding investors Amadeus Capital Partners and the Dow Chemical Company also participated.

"We are proud to be working with such high-quality investors. PolyTechnos, Amadeus and Dow Chemical bring technical, market, strategic and geographical expertise to the company along with their exceptional international contacts. We will work together to position the company as the dominant provider of solutions for printing active electronic circuits," said Plastic Logic CEO Stuart Evans.

Dr David Secher, the University's Director of Research Services, added:
"We are delighted to be part of this example of successful technology transfer. Bringing the benefits of university research to a wider public through spin-out companies such as Plastic Logic is an important activity for the University."

Plastic Logic was recently recognized by the local business community with a prestigious award for Business Excellence and Innovation from the Cambridge Evening News. Other recognition has included the Wall Street Journal European Innovation Award for Base Technologies, MIT Technology Review Top University Spinout, and Tornado Insider's Top 100.

Image: Photo Disc


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