Royole Corporation is seeking a US IPO, aiming to raise $1 billion, a person familiar with the situation told Leidi.com. Royole Corporation is a leading maker of flexible displays for smartphones and other electronic devices. The Shenzhen-based firm has been backed by the likes of Knight Capital, IDG Capital, Poly Capital Management and AMTD Group, and has raised a total of $5 billion in capital as of its Series E round.
Royole, founded in 2012, was started by Bill Liu, Peng Wei and Xiaojun Yu, who all studied at Stanford University. Their flagship technology includes the thinnest color flexible display in the world, at just 0.01 mm.
Despite the recent unfavorable capital market trends for Chinese ADRs, Royole is looking to raise funds to increase R&D investment in their core technologies. The company specializes in the mass production of next-gen flexible displays, with its IP registered in Shenzhen. Royole previously embedded displays in hats at the 2018 FIFA World Cup, and the company is working with Airbus to install displays in planes.
The foldable device trend grew in 2019, but still lacks widespread adoption, provoking questions about the technology’s long-term commercial feasibility.