Plastic Logic secures $3.8 million

Nov. 26, 2002 — Plastic Logic, a U.K.-based plastic electronics startup, announced a second closing of first-round funding worth $3.8 million.

Investors in the Cambridge University spinout were Bank of America Capital Partners, Yasuda Enterprise Development Co., St. John’s College and Steve Kahng. Existing lead investors are Amadeus Capital Partners and PolyTechnos Venture-Partners.

The money, which follows $9.7 million raised earlier this year, will be used to expand the current team of 35 employees and boost technology development and commercialization, the company said in a news release.

Plastic Logic, founded in 2000, aims to print electronic circuits out of semiconducting organic polymers with inkjet equipment. Target products include active-matrix backplanes for flat-panel displays and electronic labels that could serve as successors to product barcodes.

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