Volga | Finance, business | Technology & innovation
DisplAir ditches airborne display production idea, opts for technology licensing
20 Jan '14
DisplAir, the inventor of an interactive airborne display with full-scale multi-touch support based in Astrakhan, in the Lower Volga, has decided to scrap its old display production strategy and move to licensing its own technologies to other companies, innovation news portal Venture Business News reported.
It was reported last week that Maxim Kamanin, the founder and CEO of DisplAir, had announced during the CES-2014 show that was held on January 7-10 in Las Vegas that he would shut down the company. He then explained that their flagship product was not yet ready for serial production; with excessive expenses the company was operating in the red; and additional investment was required to go forward.
As was aired most recently, an unaffordable level of expenses required to set up shop has prompted the Astrakhan developer to opt for an effort to improve the technology and start licensing it for use by other companies in their consumer products. In this new strategy, DisplAir is closing its office in Astrakhan, leaving only its R&D department to go on with the project.
“The board of directors fully supports the company’s new strategy and is ready to render as much assistance as needed to keep it going,” said Alexander Chachava, a managing partner at LETA Capital, a Russian VC fund, and board member at DisplAir.