STOCKHOLM, Sweden, July 6, 2005 (PRIMEZONE) -- Danish developer of advanced display technologies O-pen A/S has raised more than EUR 6 million in an international funding round that primarily includes Danish investors Vaekstfonden and Seed Capital Denmark and Swedish early-stage investor InnovationsKapital. Proceeds from the round will be used to further build the development and commercial teams, bring the technology to volume production and expand the company's growing base of industrial customers and business partners.
O-pen A/S builds innovative products based upon a proprietary technology that can turn any optical surface into a high-resolution active and passive touch-activated panel. Example applications include mobile handset displays, computer monitors, or potentially even windows or glass walls. The company is currently working with several global manufacturers of industrial displays and components, all of whom are attracted by the company's ability to integrate a wide array of features into a robust and inexpensive interface solution that is easily implemented in large-scale production.
Johan Siberg, former President of Ericsson Mobile Communications AB, who served more than 30 years with the Ericsson Group, has been appointed Chairman of the Board of Directors. At the same time O-pen announced the appointment of international executive Bob Senior as CEO. Bob Senior has formerly served as CEO with a number of related global organisations, and has an extensive track record with early stage technology companies. "In my 15+ years of working internationally," Bob Senior states, "I've never seen a company in this space that is able to offer such a compelling value proposition to its OEM customers."
O-pen founder and VP of Business Development, Jonas Eliasson, is pleased about the appointment of Bob Senior: "With his experience and industry contacts, Bob is the perfect person to drive our company forward from early-stage start-up towards international expansion."
"We are very excited about 0-pen's technology and market opportunity," states Investment Director Peder Holm from InnovationsKapital. "The new team that has joined the company is very impressive. We look forward to working together with them to create a truly successful company." O-pen received seed funding from Seed Capital Denmark and Vaekstfonden in early 2004. "O-pen fits right into the core of our investment strategy," states Investment Director Eric-Alan Rapp from Vaekstfonden. "They address a large and growing market with unique products based on a disruptive technology." "The potential in O-pen's technology was evident and therefore we provided their initial financing in the beginning of 2004," explains Investment Director Lars Andersen from Seed Capital Denmark.
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