Oct 2, 2017: Five-year old startup Royole Corporation announces that it has raised a total of ~$800M US$ in its Series D round of funding and holds Cooperation Agreements from top investors including: Bank of China, Industrial and Commercial Bank of China, China CITIC Bank, Agricultural Bank of China, Ping An Bank, Warmsun Holding Group, Hanfor Capital, SPD Bank, Zhonghai Shengrong Capital, and Tanshi Capital. Royole is a leading innovator and manufacturer of next-generation human-machine interface technologies and products such as advanced flexible displays, flexible sensors, and smart devices.
Royole produces advanced flexible AMOLED displays at a resolution beyond 3000ppi as well as flexible sensors. Last year, it launched a premium foldable Virtual Reality headset, the Moon, marketed as a 3D mobile theatre boasting an ultra-high resolution over 3000ppi.
Royole’s Series D funding includes: $240M USD of equity financing from Warmsun Holding Group, Hanfor Capital, SPD Bank, Zhonghai Shengrong Capital, and TanShi Capital; and $560M USD of debt financing from Bank of China, Industrial and Commercial Bank of China, China CITIC Bank, Agricultural Bank of China, and Ping An Bank.
Royole was co-founded in Silicon Valley, Shenzhen and Hong Kong in 2012 by three Stanford and Tsinghua engineering graduates. Since its inception, the company has received five rounds of investments from global venture capitalists and private equity firms, including IDG Capital, Shenzhen Capital Group, CITIC Capital, Costone Capital, Knights Investment Group, Alpha Wealth etc. In October 2016, Royole completed its pre-D round of funding with a company valuation of $3B USD, making it one of the world’s fastest growing technology start-ups.
“Royole’s mission is to create unique technologies and products to improve the way people interact with the world. In the past five years, we have been focusing on the innovation, development and production of super-thin flexible displays, transparent flexible sensors, and 3D mobile theater devices,” said Royole Founder and CEO, Dr. Bill Liu. “The funding from our impressive Series D partners will help our company to invest more in R&D, production, and sales to accelerate every aspect of the company’s growth. We look forward to working with our partners together to build a wonderful ‘Flexible+’ world.”
“The cooperation with Royole is an important step in our Finance & Technology development strategy,” stated Ms. X. Chen, representing China CITIC Bank. “China CITIC Bank has significant industry partners and resources to provide strong support for Royole’s business growth, production campus construction, company management, market development, and asset management.”
Royole’s core technologies and products include the world’s thinnest full-color AMOLED flexible display with a thickness of only 0.01mm and a bending radius of 1mm; novel flexible sensor technology on transparent, super-thin, flexible film; and Moon, a 3D mobile theater for movies, gaming, and more. Throughout the past five years, Royole has filed more than 1,200 core technology intellectual property rights.
In Q4 2015, Royole began development and construction on its $1.7B USD international flexible display campus (the world’s first Quasi-G6 fully flexible display production line) in Shenzhen. The annual capacity of the new production line is expected to be more than 50 million flexible display units and able to support a large number of consumer electronics, intelligent transportation, smart home appliances, sportswear, fashion, home decor, robotics, education and many other industrial applications.