Electronics Company Royole Closes $720 Million
Royole announced it has secured $720 million in Series D financing from a suite of leading Chinese investors and financial institutions, including Ping An Group, Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, and Zhonghai Shengrong Capital.
Royole creates and manufactures advanced flexible displays, sensors, and consumer electronics. In 2014, it introduced the world’s thinnest full-color flexible displays, with a thickness of 0.01 mm and a bending radius of 1 mm. In 2015, Royole launched and started mass production of the world’s first foldable virtual mobile theater device, Royole-X. The company has also created Moon, a 3D virtual reality headset that features ultra-high-resolution displays, noise-cancelling headphones, foldable design, and a proprietary operating system to connect to unlimited movies and music.
In its announcement, the company said the funding will help Royole invest more in research and development, production, and sales to accelerate the company’s growth.