French printed organic photodetector startup raises €16m

French printed organic photodetector startup raises €16m

Business news |
By Nick Flaherty

Isorg, a pioneer in Organic Photodetectors (OPDs) and printed large-area image sensors, has raised €16m to launch into the security market and consumer electronics applications

The series C financing includes Sumitomo Chemical and Mitsubishi as well as Greece-based Integrated Systems Development and five new French investors represented by fund manager Financière Fonds Privés. Existing shareholders Bpifrance, through its large venture funds, New Science Venture, CEA Investment and Sofimac Group (Limousin Participations) also contributed, reaffirming their commitment and confidence in Isorg. The company has raised €47.8m ($58.4m) to date.

“This third fundraising marks Isorg’s maturity and readiness to become the industrial player we set out to be at the very start of our venture 11 years ago,” said Jean Yves Gomez, CEO of Isorg. “The addition of new industrial investors from Japan and Greece, alongside our historical partners, is confirmation of our international ambition, the strength of our business model and product maturity.”

Isorg will use the cash to launch the commercial availability of its organic photodiode technology to provide the security market with increased levels of ID authentication and offer new integration opportunities for multiple fingerprint scanners. It will also deploy a global sales and applications engineering workforce and move to full production as it operates the first industrial plant with capacity to mass produce OPD sensors. 

Isorg works with French nanotechnology lab CEA-Liten to develop large-area image sensors and biometrics solutions based on OPDs that turn plastic, glass or CMOS substrates, into an optical sensing surface. The thin, lightweight OPD modules that can withstand outdoor light for mobile applications. It is also planning to produce a palm-sized fingerprint module and is designing a vein recognition module based on a client-validated sensor with strong near infrared sensitivity.

The global photodiode sensors market is expected to reach a value of $867.7m by 2026, expanding at a CAGR of 7.7 percent from 2018 to 2026 according to Transparency Market Research.

“OPD technology can be used in a variety of applications. We expect the OPD market will soon boom and expand rapidly through Isorg’s technology,” said Isao Kurimoto, executive officer at Sumitomo Chemical. 

“Besides integration in smartphones, Isorg’s solutions can be applied in a wide range of applications for different industry domains,” said Yoshiyuki Watanabe, general manager of the business creation & digital strategy unit at Mitsubishi Corporation.

Integrated Systems Development (ISD) in Greece is an independent organization that develops Integrated Systems (IS) that exhibit guaranteed quality and performance. The company works with system houses, software houses and integrated circuit manufacturers and acts as a broad-based original electronic equipment developer and integrator. Services provided range from software development for embedded and general-purpose platforms, to digital and analog / RF integrated circuit design. ISD is also heavily involved in telemedicine, memory design and digital signal processing for embedded/stand-alone applications as well as PCB design and system integration.;

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