Date: Oct 26, 2018 Source: Business Wire (
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Leading Venture Capitalists Invest in Lumenari's Vision &Differentiated Approach to Narrow-Bandwidth LED Phosphors; Funds WillAccelerate Go-To-Market Strategy
Lumenari's industry-first offering, Emerald, gives OEMs the ability toexpand the color gamut and range in their displays spanning televisions,tablets, laptops, computer monitors and smartphones. According to theSeptember 2018 DisplayPanel Market Forecast (2018-2023) published by Mordor Intelligencethe display panel market was valued at $164 billion in 2017, which isexpected to reach a value of $235 billion by 2023, registering a CAGR ofover 6.2% during the 2018-2023 forecast period.
"Lumenari's breakthrough technology Emerald is well-timed with therapidly increasing demand by display manufacturers for a broader colorgamut and a brighter display," said TJ Rodgers, founder and ex-CEO ofCypress Semiconductor. "We see the market moving towards wide colorgamut displays, for which Lumenari offers a powerful solution that willminimize brightness degradation and color shift."
"Our investment approach is to look for companies that pioneer newapproaches to disrupt large industries and leverage markets. Theexplosion of content and consumer demand for high quality displays onall devices, whether TV, computer or mobile, sets the stage forLumenari's Emerald technology," said J.D. Vance, managing partner ofRevolution's Rise of the Rest Seed Fund. "Lumenari moved from SiliconValley to Lexington, KY and serves as another example of a great companychoosing to scale outside of the coastal tech hubs."
"Between our revolutionary product Emerald, this infusion of smartcapital and our world-class team, we couldn't be more eager toaccelerate our go-to-market strategy and allow OEMs and displaymanufacturers to achieve something cutting-edge," said Robert Nordsell,Co-founder and CEO of Lumenari.
For more information on Lumenari and its Emerald LED phosphor, pleasevisit www.lumenariinc.com.
About Lumenari
Lumenari is a leading narrow-bandwidth LED phosphor company thatprovides OEMs, packaged LED suppliers and display manufacturers with newphosphor technology Emerald™ that expands the color gamut and range indisplays spanning televisions, tablets, laptops, computer monitors andsmartphones.
Launched in 2013, Lumenari is based in Lexington, Kentucky. Thecompany's investors include TJ Rodgers, Jeremy Blank, Joseph Malchowand Revolution's Rise of the Rest Seed Fund (led by Revolution CEO SteveCase and Rise of the Rest Managing Partner JD Vance) as well as severalprominent angel investors Band of Angels, Bluegrass Angels, KentuckyScience & Technology Corporation and Commonwealth Seed Capital.
Contacts
HoogComm for Lumenari
Sue Ellen Schaming, 415-722-8583
sschaming@hoogcomm.com
