image : Royole

Royole – a China based maker of flexible displays – is seeking $1 billion in funding ahead of an IPO, according to a Bloomberg report. It says the company, last valued at $5 billion, is seeking a valuation of at least $8 billion for this round and that it seeks to increase its sales and marketing and research facilities, with new funding.

Bloomberg also reports the company is weighing an IPO, but hasn’t come to terms with a listing destination. Royole grabbed headlines after unveiling the world’s first foldable phone early this year. The company has put in $1.7 billion into a 1.1 million square feet manufacturing facility in Shenzhen that is now fully operational.

The Royole Moon – a ‘3D virtual mobile theater’ image : Royole

Royole traces its origins to three Stanford engineering graduates – Bill Liu, Peng Wei and Xiaojun Yu – who started the company in 2012. It manufactures advanced flexible displays, flexible sensors and smart devices and also provides intellectual property (IP) licenses and services for other producers of flexible displays.

Backed by notable names like IDG Capital, Alpha Wealth, Green Pine Capital, Shenzhen Capital Group, Knights Investment Group, Co-Stone Capital and CITIC Capital, Royole has raised $1.1 billion in total, according to Crunchbase data.

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