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Series C Round Will Support First Commercial Products
Based on QD Vision's Quantum Light™ Nanotech Product Platform
QD Vision today announced it raised $9 million in venture-capital financing from two leading venture capital firms, Highland Capital Partners and North Bridge Venture Partners, and from In-Q-Tel, the strategic investment firm launched by the CIA in 1999. The funding will help it launch the first QD Vision Quantum Light™ products into commercial markets, augmenting several million dollars in bookings from government and commercial development contracts the company has already won.
"QD Vision has built upon research breakthroughs enabling quantum-dot materials to serve as a platform for the next generation of lighting and display solutions," said Dr. Daniel Button, CEO of QD Vision. "The QD Vision Quantum Light™ product platform is being designed into new products by strategic partners who are leaders in consumer electronics, flat-panel displays, electronic signage and solid state lighting, and we are building out our infrastructure to accommodate their needs as they get ready for commercial production."
QD Vision's advances in nanotechnology leverage the light-emitting qualities of a new class of nanomaterials called quantum dots. Its proprietary process technology can engineer quantum dots to achieve a complete spectrum of colors from the visible to the infrared when stimulated with photons or electrons. Leveraging a breakthrough patent portfolio from QD Vision and from MIT, the company is enabling a new generation of lighting solutions that will set new standards for brightness, color purity, power consumption and design flexibility.
"QD Vision's work with light-emitting quantum-dot nanocrystals is laying the foundation for future displays with extraordinary color, power efficiency and process-scalability," said Barry Young, a leading authority on new display technologies and Senior Advisor at DisplaySearch, an NPD Group Company. "With its new funding and an exceptional team, QD Vision is well positioned to seize this opportunity."
Highland Capital and North Bridge Venture Partners participated in earlier rounds of the company's financing, and In-Q-Tel is a new investor. In addition to its capital investment, In-Q-Tel also funded a multi-million-dollar contract with QD Vision to develop leading edge applications for customers in the federal and commercial markets.
About QD Vision
QD Vision (www.qdvision.com) is a quantum-dot product company that delivers highly differentiated lighting solutions to major industries where color, power and design matter. QD Vision’s Quantum Light™ product platform enables step-change advances over other display and lighting solutions such as liquid-crystal displays (LCDs), plasma displays, light-emitting diodes (LEDs), and even organic LEDs (OLEDs). QD Vision is actively designing in products with industry-leading companies in target markets including consumer electronics and flat panel displays, electronic signage, clean tech such as solid state lighting, and defense. Leveraging a first-tier patent position in nanotechnology originating at MIT, QD Vision is a privately held company based in the Watertown, Mass.
About Highland Capital Partners
Highland Capital Partners was founded with the mission of helping great people build great companies. Since its inception in 1988, the firm has taken a sector-focused approach to investing in exceptional information technology, communications and healthcare companies. With more than $2.6 billion of committed capital, Highland has invested in and worked to create such firms as Altiga Networks, Ask Jeeves, Avid Technology, Be Free, CheckFree, Conor Medsystems, Continental Cable, EXACT Sciences, Lycos, MapQuest, New Oak Communications, Ocular Networks, Odyssey Healthcare, Sybase, Telica, VistaPrint and WebLine Communications. For more information, visit Highland's web site at www.hcp.com.
North Bridge Venture Partners
North Bridge Venture Partners is an active, early-stage venture capital fund based in the Boston, Massachusetts area. For North Bridge, success is a partnership with management that produces leading public companies in large emerging markets. Working closely with entrepreneurs, North Bridge adds value by providing strategic guidance, specific industry knowledge, team-building skills, and an in-depth understanding of both private and public financings.
In-Q-Tel is the strategic, not-for-profit investment firm that works to identify, adapt, and deliver innovative technology solutions to support the mission of the U.S. Intelligence Community. Launched by the CIA in 1999 as a private, independent organization, In-Q-Tel’s mission is to identify and partner with companies developing cutting-edge technologies that serve the national security interests of the United States. Working from an evolving strategic blueprint defining the Intelligence Community’s critical technology needs, In-Q-Tel engages with entrepreneurs, growth companies, researchers, and investors to deliver technologies that provide superior capabilities for the CIA and the larger Intelligence Community. In-Q-Tel concentrates on several broad commercial technology areas, including application software and analytics; communications and infrastructure; digital identity and security; embedded systems and power; and bio, chemical, and nanotechnology. To date, In-Q-Tel has engaged with more than 100 companies and delivered more than 140 technology solutions to the Intelligence Community. To learn more about In-Q-Tel, visit www.iqt.org.
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Dr. Daniel Button
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