Society for Information Display
Pixelligent Technologies, a producer of nanocrystal dispersions for demanding applications in the electronics, semiconductor, and industrial markets, recently announced that it closed $5.1 million in new equity funding.The funds will be used to further accelerate the scaling-up of its manufacturing capacity and to hire application, engineering, and business development staff.
This round of funding included expanded participation from both new and existing investors. The lead investor was once again the Abell Foundation and the company continued to receive strong support from its investor base with a follow-on investor participation rate of more than 85%. During the past five years, Pixelligent has raised $14 million in equity funding and has been awarded more than $9 million in U.S. government grant programs.
“During the past 12 months we have seen a tremendous increase in demand for our nanocrystal dispersions spanning the CMOS Image Sensor, ITO, LED, OLED and Flat Panel Display markets,” said Craig Bandes, Pixelligent’s President & CEO. “Demand is coming from customers around the globe with the fastest growth being realized in Asia. In the first quarter of 2013, we began shipping our first commercial orders and currently have more than 30 customers at various stages of product qualification. This investment will enable Pixelligent to significantly increase our manufacturing capacity and allow us to begin meeting current customer demand.”
June 3, 2013