Kinestral Technologies Secures $100M in Series D
HAYWARD, CA, Kinestral Technologies announced that the company has closed Series D funding of over $100M led by SK Holdings.
Kinestral Technologies, Inc., developer and manufacturer of Halio, the most advanced smart-tinting glass product for buildings and homes, today announced that the company has closed Series D funding of over $100M led by SK Holdings, one of the largest conglomerates in South Korea. Current investors 5AM Ventures, Alexandria Real Estate, Capricorn Investment Group and Versant Ventures also participated in the round. This investment will allow Kinestral to expand manufacturing, sales, and installation of Halio smart-tinting glass to meet rapidly growing global demand.
"We are excited that SK Holdings shares our vision of Halio being in every building and every home," said S.B. Cha, CEO of Kinestral Technologies. "We have the best product in its category, distribution in every major market, and the most modern and efficient mass manufacturing facility in the industry. With SK Holdings' support, we will make Halio the standard of smart buildings and homes so that people everywhere can live in harmony with natural light."
Halio is the only product of its kind that looks like natural glass in its clear state and tints automatically or on demand to neutral gray shades to stop the unwanted intrusion of both glare and solar heat, while giving users complete privacy. With tinting speeds up to 10 times faster than similar products, Halio responds in seconds to changing light conditions. It tints uniformly to a virtually limitless number of tint level options. It can also be integrated with building management and home automation systems as well as cloud-based devices.
"After assessing the global opportunity for smart glass, it is clear to us that Kinestral has the most advanced technologies, the best product, and the manufacturing techniques that provide a clear path to high yields and lower cost, which makes their vision of bringing 'Halio everywhere' truly attainable," said Jung Hoon Lee, vice president of SK Holdings.
Halio smart-tinting glass is sold exclusively through Halio North America and Halio International, joint venture companies that Kinestral formed with AGC, Inc., the largest glass manufacturer in the world. Halio is available in over 30 countries.
About Kinestral Technologies, Inc.
Headquartered in the San Francisco Bay area, Kinestral Technologies, Inc. develops technologies that transform glass into responsive, intelligent, and beautiful architectural elements. The company's research and development efforts have resulted in a growing global patent portfolio in manufacturing, device processing, and smart window control systems. Kinestral's flagship product, Halio, is the recipient of several innovation awards, including Architectural Product Magazine's PIA award. Visit www.kinestral.com for more information.
About SK Holdings
SK Holdings continues to enhance its portfolio value by executing long-term investments with a number of competitive subsidiaries in various business areas, including pharmaceuticals and life science, energy and chemicals, information and telecommunication, and semiconductors. In addition, SK Holdings is focused on reinforcing its growth foundations through profitable and practical management based on financial stability, while raising its enterprise value by investing in new future growth businesses. For more information, please visit http://hc.sk.co.kr/en/.
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