Hong Kong sapphire coating start-up targets expanded use in foldable phones, seeks US$1.5 million in funding
- Backed by the Hong Kong government, Cathay Photonics looks to expand lab and headcount within Greater Bay Area
- Technology could be used in second-generation foldable devices, CEO says
Hong Kong start-up Cathay Photonics, which has patented technology for the application of scratch proof sapphire on glass and plastic, is targeting US$1.5 million in pre-series A financing from international investors as it targets expanded use in foldable phones and other devices.
“The sapphire film helps to protect the plastic screens of foldable phones so they won’t be easily scratched, or wear out, when you fold and unfold the phone,” said Cheah Kok Wai, the company’s co-founder and chief executive. “Sapphire coating extends the lifespan of the device and increases its durability.”
Cheah, who is also the former head of Baptist University’s department of physics, said the 10 people company hoped to use the venture capital raised for workforce and laboratory expansion. One of the options it was exploring was diversifying part of its operations to the Greater Bay Area, which encompasses Hong Kong, Macau and nine cities in mainland China’s Guangdong province.
Cathay Photonics intends to stay a research and development-focused company. It licenses its technology to other original equipment manufacturers, provides testing and offers advice on engineering design and final manufacturing.
The funding round coincides with an agreement signed between Cathay Photonics and the Hong Kong unit of Japanese chemical and plastic group Nagase, licensing the use of the former’s technology for coating foldable phone screens with thin sapphire in mass production. A second agreement has been signed for trying out watch glass coating in mass production.
Cathay Photonics, established in 2014 with government funding, is also backed by Hong Kong firm Radiant Venture Capital, which joined the company in 2015 as an angel investor.
