8.5 C
Monday, February 26, 2024

Inuru intends to conquer the FMCG and medical packaging market

Must read

Inuru strengthens its position as a leader in the printed lighting sector by raising €10 million in its latest funding round. The company is poised to enter the FMCG and medical packaging markets, expecting significant revenue growth this year.

The support received in the latest funding round comes from a consortium of investors, including leading privately held LED lighting manufacturer Adamed (through a dedicated fund), Aper Ventures and ARIA, along with a group of business angels. . This shows confidence in the light printing technology developed by Inuru.

The company’s patented solution allows you to place smart light on any surface. Interactive OLEDs are especially used in the label and packaging industries. Inuru technology can be used both practically – for example as a warning (expired medications, dangerous substances) – and creatively – as an intriguing element of illustration, a way to attractively convey additional marketing content.

The company produces OLEDs in Germany and has developed a unique printing system. Inuru’s technology was first demonstrated in Singapore in 2019. As part of its Star Wars advertising campaign, Coca-Cola brought the lightsabers of the series’ characters to life using Inuru OLED displays. The limited edition went viral online and became a prized collector’s item for Star Wars fans.

Market expansion plans

Inuru plans to enter new markets including the fast moving consumer goods (FMCG) and pharmaceutical sectors. In the latter case, OLED tags are intended to help patients read expiration dates on medications and ensure that prescribed doses are being followed. This is a response to the pressing problem of inappropriate drug dosing, which results in high costs for both consumers and the entire healthcare system.

With every one of us at risk of taking expired medications and half of us failing to meet regulatory guidelines, this results in $600 billion in preventive health care costs and 325,000 annual deaths. The demand for smart solutions in this sector is very important.

“Through our labels, we enable patients to better adhere to medication recommendations and help them regain control of their health,” said Marcin Ratajczak, CEO of Inuru.

Having established partnerships with market giants such as Coca-Cola, Cattier and Displate, Inuru is also entering the American toys and games industry with CEACO. INURU products are being used in a brand new version – this time they are part of a board game available at Walmart.

INURU technology can also be integrated into clothing, giving it not only aesthetic functions, but also increasing the safety of the user.

The company is currently focused on completing the world’s first fully automated OLED printing production line in Wildau, near Berlin. The line will allow Inuru to significantly reduce production costs and, as a result, increase the availability of the solution and enter new markets.

Interest in INURU around the world

The printed electronics market is expected to grow by 18.3%. CAGR (compound annual growth rate) and increase from US$9.9 billion to US$23 billion. by 2026 “As we seek to leverage our OLED technology in the medical device, packaging and FMCG sectors, we are carefully evaluating various financing channels, including the possibility of an IPO,” said Robert Chudala, Chief Financial Officer of Inuru. “These considerations are an integral part of a comprehensive capital strategy designed to support our rapid scale-up efforts and facilitate entry into new markets, both geographically and across industries,” he added.

Inuru’s OLED technology has generated interest in key international markets spanning the US, Europe, Asia and the Middle East. Thus, the opportunity to develop and meet market needs is enormous and the company is poised for rapid expansion.

Inuru also ensured that his technology was properly secured. The company has amassed a strong intellectual property portfolio of 25 patents and has the ability to create cost-effective OLED technologies and luminous labels using advanced manufacturing technologies.

This will allow us to meet demand and achieve significant production scale. At the same time, Inuru is constantly working to optimize production efficiency and realize economies of scale in material procurement. This further reduces the cost of OLED production, paving the way for low-cost OLED products for new applications such as pharmaceutical packaging and labels to reduce food waste. Since the beginning of the year, the company has also been operating a branch in Warsaw and intends to open a research and development center in Poland in the near future.

Source: Directly
  • Companies and markets
  • Innovation
  • Technologies

Source: Wprost

More articles


Please enter your comment!
Please enter your name here

Latest article