German-based OLED manufacturer Inuru said it raised $10 million from Aper Ventures, Adamed Technology (which is the venture capital part of the Polish drug company Adamed Pharma), ARIA and a group of business partners. With the new funds, Inuru says it will be able to use its interactive OLED technology in new industries.
According to Inuru, it is now focused on two areas: pharmaceuticals (prescription medication) and recreation. Inuru's main goal in the prescription medication sector is to use OLED labels to alert users when their medication expires. A simple change in color on the bottle provides a visual cue to let patients know when to replace or dispose of medication. Failure to manage prescription medication properly leads to 350,000 deaths per year and $600 billion in medical costs that could be avoided.
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For Inuru’s recreational OLED updates, they are introducing a game board equipped with OLED technology expected to hit Walmart shelves sometime in the near future. While not much more information is available, Inuru is expected to see revenues triple this year due to their recent innovations.
This year, French Champagne maker Cattier used Inuru's OLEDs to power interactive touch labels. When pouring the champagne, the label would illuminate. The design was completely for novelty use- but showcased the OLED’s ability to be incredibly thin and blend seamlessly to the label on the glass bottle.
Inuru continues to work toward mastering affordable OLED technology to increase safety, visibility and reduce waste.