SOUTH SAN FRANCISCO, Calif. – Jan. 31, 2017 – Kinestral Technologies, Inc., developer of Halio™, the world’s most responsive smart-tinting glass, today announced that the company has closed a $65 million Series C equity funding round. The funding will be used to launch Halio into North America beginning later this year and into the global marketplace in 2018.
The investment was led by AGC Asahi Glass (AGC), a world-leading manufacturer of glass, chemicals and high-tech materials, and included new investor Hermes-Epitek, as well as existing investors 5AM Ventures, Alexandria Venture Investments, Capricorn Investment Group, Mitsubishi UFJ Capital, and Versant Ventures. Jean-François Heris, senior executive officer of AGC and president of AGC Building and Industrial Glass Company, has joined the Kinestral board of directors.
Halio smart-tinting glass delivers shade and protection from the sun’s glare within seconds, achieving the desired tint within three minutes. In its clear state, Halio is indistinguishable from ordinary glass, but unlike ordinary glass, it tints to a range of neutral grays that complement any design style or color palette. With Halio, smart homes and buildings will deliver meaningful improvements in occupant comfort and well-being while achieving the highest levels of energy efficiency.
“Our investors recognize that Halio technology is revolutionary. Halio is also beautiful – in fact, it’s so beautiful that it can be used for interior walls in homes and buildings” said S.B. Cha, CEO of Kinestral. “With the financial backing of an impressive set of global investors and our strategic partnership with AGC, we can very quickly commercialize Halio worldwide.”
“For over 100 years, AGC has pioneered some of the most important breakthroughs in glass and coatings for our customers,” said Heris. “We see Halio as the natural next step for glass to really connect people to their environment while neutralizing all the negative aspects of heat and glare from the sun. Through our partnership with Kinestral, we continue to transform the glass industry.” Last year, AGC and Kinestral forged a strategic relationship to jointly market and sell Halio.
AGC Asahi Glass (also called AGC, Registered Company name: Asahi Glass Co., Ltd., Headquarters: Tokyo, President & CEO: Takuya Shimamura) is the parent company of the AGC Group, a world-leading glass solution provider and supplier of flat, automotive and display glass, chemicals, ceramics and other high-tech materials and components. Based on more than a century of technical innovation, the AGC Group has developed a wide range of cutting-edge products. The AGC Group employs some 50,000 people worldwide and generates annual sales of approximately 1.3 trillion Japanese yen through business in about 30 countries. For more information, please visit www.agc-group.com
Hermes-Epitek, headquartered in Hsin Hsu, Taiwan, is a leading Taiwanese high-tech equipment provider and technology investor with a history of bringing new technologies to market and investing in emerging companies that become industry leaders. For more information, please visit www.hermes.com.tw/Eng/.