BASF Venture Capital, Octopus Investments and Entrepreneurs Fund have taken part in a series-A funding round for SmartKem, a UK-based provider of semiconductor materials for use in flexible display screens.
Austria-based electrical engineering company had filed for insolvency in April 2020
VC house expects to hold a €35-45m first close by the end of July and a final close in around one year
LPs in Exponent III include Aberdeen Standard Investments, Central Pension Fund and CNP Assurances
Company has generated €12m in revenues and has a 25% EBITDA margin