QD Vision, developer
of Quantum Light™ nanotechnology-based products for solid state lighting
and displays, today announced it raised $10 million in financing from North
Bridge Venture Partners, Highland Capital Partners and In-Q-Tel.
This new round of funding will support the expansion of the first QD Vision
Quantum Light™ products nto the global solid-state lighting market, and
continued advancements on a new generation of quantum dot-based LEDs and materials
for high-resolution displays. Founded in 2004 by a research team from MIT, the
financing brings to $30 million the total venture investment in QD Vision.
"QD Vision's Quantum Light™ products unleash the power of quantum
dots to deliver high quality light and color, and unlike other technologies,
they concurrently reduce power consumption, and enable more cost-effective solutions
for today's LED-based lighting and display manufacturers," said Dr. Daniel
Button, CEO of QD Vision. "The vote of confidence and support from North
Bridge, Highland and In-Q-Tel provides QD Vision the resources to meet the huge
and growing demand for green-tech lighting and display solutions, which represent
a multi-billion dollar global market opportunity."
Since announcing its first product earlier this year--a Quantum Light™
optic for a new LED lamp developed by Nexxus Lighting, Inc. (NASDAQ:NEXS) that
combines the warmth and color of incandescent bulbs with the efficiency of LED
technology--QD Vision has seen a significant increase in interest from the lighting
and display industry in its quantum dot technology. The Nexxus lamp featuring
the Quantum Light™ optic is scheduled to ship in Q1 of 2010.
In November 2009, the New England Clean Energy Council named QD Vision the
Emerging Company of the Year. On President Obama's recent visit to MIT to give
a major address on research and technology innovation, QD Vision's technology
was featured as a leading example of clean-tech research and development. In
September 2009, the Wall Street Journal recognized QD Vision with a Technology
innovation Award.