MIG in $25m series-C for Cynora

In addition to Germany-based MIG, investors include family office Wecken & Cie, South Korea-based VC SBI, investment fund Dboled and US-based SRF Partners Group.

The company expects to close this funding round shortly, after an additional investment.

The fresh capital will be used to support the production, sale and support of the company's materials. Cynora's product range has not yet been commercialised.

Following the transaction, SRF partner Dan Rubin will join Cynora's board. Newly appointed CEO Adam Kablanian will also begin managing the company, while former CEO Gildas Sorin will remain at the company during the transition.

Previous funding
In 2011, MIG and KfW invested €3m in Cynora. MIG used its MIG Fonds 10 and MIG Fonds 11, and KfW used its ERP Start Fund. MIG acquired 25% stake.

In 2017, LG Display and Samsung Ventures invested €25m in the company's series-B.

Company
Based in Bruschsal, Cynora is a developer of thermally activated delayed fluorescence technology and focuses on providing high-efficiency blue OLED materials. Founded in 2009, the company employs approximately 65 people.

People
MIG – Kristian Schmidt-Garve (partner).
SRF Partners – Dan Rubin (partner).
Cynora – Adam Kablanian (CEO).

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• Topics
• Early-stage
• DACH
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• Germany
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