Plastic Logic Receives $100 Million in Funding

Plastic Logic, announced that it has secured $100 million worth of venture capital, one of the largest deals in European venture capital history.

The funding was co-led by Oak Investment Partners of Palo Alto and Tudor Investment of Greenwich. Plastic Logic intends to use the venture funds to build a manufacturing facility. This is a strategic shift in its business model away from a licensing strategy to manufacturing its own products. The company expects to begin manufacturing standalone flexible active-matrix display units that include connectivity hardware by 2009.

Mr Hauser, Director of Plastic Logic, believes they could achieve $1bn in annual sales within 5-10 years. The company's first products are to be a series of light, tough and flexible display screens the thickness of a credit card. Plastic Logic, based in Cambridge, is to build the factory by the end of next year in Dresden, Germany.

Plastic Logic, which was formed in 2000 previously received $50m investment rounds.

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Shak Gohir
Cenamps, Business & Programme Manager