Israeli display inspection equipment company InZiv has announced that it has closed a $2.5 million Series A financing round led by Maverick Ventures Israel. This funding will enable InZiv to develop its advanced inspection tools to better serve the flat panel display (FPD) industry.
Jerusalem-based InZiv designs and manufactures inspection equipment for identifying critical defects in pixels of advanced displays such as OLED, MicroLED, and QLED. These new screens feature increasingly smaller pixels and exciting new advantages, e.g. reduced power consumption, higher resolution, enhanced brightness, and flexible screens. However, these new technologies have also introduced a whole new set of high-value problems: nanoscale defects that contribute to low yields and high costs in the manufacturing of such displays.
InZiv's nano-optical and metrological inspection equipment offers the ability to study a wide variety of defects not detectable with existing tools. The company's mission is to offer a portfolio of tools that will enable FPD manufacturers to meet emerging challenges in the field.
InZiv CEO David Lewis said, "New high-resolution screens, with vibrant colors and crisp text, have become both ubiquitous and essential in every aspect of our lives. The OLED market alone is roughly a $25 Billion industry today, and the era of wearable devices is just beginning. While these screens feature many exciting advantages, as pixel size continues to decrease, new challenges emerge.
He added, "InZiv is now positioned to address these critical pain points and to provide the technological edge that display manufacturers are seeking. We are excited to be at the forefront of developing breakthrough inspection equipment for the FPD industry, tools which will provide greater accessibility to next-generation display technologies for more consumers."
Maverick Ventures Israel founder Yaron Carni said, "Through its patented technology, the company has developed a solution for a pain point felt by many manufacturers and helps them focus on exactly what they are yearning for - producing flawless screens in the most efficient way possible making them more cost efficient for the end user down the chain."
Published by Globes, Israel business news - en.globes.co.il - on January 9, 2019
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