Plastic Logic has raised a further $35 million, much of it from existing investor Oak Ventures, as it moves towards a commercial launch of its eReader, the Que, currently scheduled for January 7th 2010 at CES. The company is a spin out from the Cavendish Laboratory at Cambridge University and has offices in Cambridge, Mountain View and Dresden.
The pre-revenue business has already raised around $200 million to fund the development of a manufacturing facility in Dresden. The eReader is just one part of the plan to create an entirely new industry in printed plastic electronics. This could be as fundamental to the future of technology as the invention of the transistor according to some commentators.
“Plastic Logic’s Mission is to lead a revolution in the way people acquire, organize and consume information. We are using our proprietary technology leadership in plastic electronics to create a range of products enabling immediate information access, organization and consumption.
“We are a dynamic, fast-growing entrepreneurial company. We are seeking qualified professionals who want to join our teams in Cambridge, U.K., Dresden, Germany; and Mountain View, California. If this describes you, please take a look at our
“Plastic Logic has raised over $200M in financing from top-tier venture funding sources in Asia, Europe and the U.S. We are using the funds to complete product development in U.K. and the USA, build a specialized, scalable production facility in Germany and build our go-to-market teams.” Company website.
This is preview of the Plastic Logic Que that is being launched at CES on January 7th. WARNING May contain extreme French accent.
“Extra thin, lightweight and wireless-enabled, the innovative QUE proReader features the largest screen in the industry, an intuitive touch screen user interface, and access to a file cabinet’s worth of documents, plus your favorite – and most necessary – publications. Its battery lasts days, instead of hours. Full product specifications, availability and pricing will be announced at the QUE premiere on January 7, 2010 at CES, Las Vegas.
“Below are some of the features of the QUE proReader.
- QUE is about the size of an 8.5 x 11 inch pad of paper and is less than 1/3 inch thick
- QUE weighs less than most magazines
- 3G network connectivity from AT&T, Wireless (Wi-Fi) and wired access via USB connection
- Full touchscreen interface
- Active Matrix Display
- Long lasting battery life: measured in days not hours
- Tools and applications for reading, annotating and managing documents” Company web site.
It just goes to prove that if the idea is big enough, the science good enough, the team strong enough and the timing is right, venture capital investors will invest heavily into European ideas. (And don’t forget this was actually a University Spin Out). Loving British scientists!