BALTIMORE – Nov. 3, 2022 – Pixelligent Technologies LLC (“Pixelligent”), today announced that it has secured $38 million in non-dilutive growth capital backed by its intellectual property portfolio. The capital was provided by a funding vehicle managed by MVolution Partners LLC (“MVP”) and facilitated by insurance and valuation services provided by Aon (NYSE: AON). This additional growth capital brings Pixelligent’s total funding in this round to over $45 million, including equity capital from its strategic and financial shareholders.
Pixelligent’s products are used by leaders to enable AR/MR devices, OLED/Mini and MicroLED displays, optical/LIDAR sensors, and industrial applications. The PixClear®, PixNIL®, and PixJet® brands are the industry’s leading high-refractive index formulations and materials, and essential foundational technologies for advanced electronics products. They deliver a combination of properties, operating efficiencies, and unprecedented performance.
The company will use the growth funding to accelerate and expand commercial activities in its target markets in partnership with leading consumer electronics companies, and leverage its proprietary PixClearProcess™ platform to develop new synthetic metal oxides and applications.
“Thanks to Pixelligent’s award-winning manufacturing platform, nearly 90 patents, and dozens of trade secrets, we were able to secure attractive debt financing at a pivotal moment in Pixelligent’s growth trajectory,” said CEO Craig Bandes. “MVP and Aon quickly understood the value of Pixelligent’s proprietary assets and were excellent to work with throughout the process. We are grateful to all parties involved in successfully completing this transaction. The funding will help us support our customers as we bring numerous mass-production applications to market in 2023 and beyond.”
“We are excited to support Pixelligent’s next phase of value creation with our growth capital solution,” said Mike Weinmann, Founding Partner at MVolution Partners. “MVP is committed to helping companies with significant IP unlock the value of their intangible assets and accelerating sustainable and responsible innovation through non-dilutive debt financing.”
“Innovation is a critical ingredient for the growth economy, but intellectual property is its foundation. Aon is working with IP-rich companies like Pixelligent to help leverage the value of their intangible assets,” said Lewis Lee, CEO of Aon’s Intellectual Property Solutions. “It was a pleasure to assist the teams at Pixelligent and MVolution Partners in connection with their insured IP debt financing, which helped unlock the value in Pixelligent’s IP.”
Please visit us at www.pixelligent.com and follow us on LinkedIn and Twitter @Pixelligent.
About MVolution Partners
MVolution Partners (MVP) provides growth capital solutions up to $100 million to companies with significant intellectual property assets. MVP targets investments in North America and Europe and provides operational, strategic, and sustainability value add to achieve shared success with its portfolio companies. The founding partners of MVP have been involved in $4 billion of principal investments and have advised on over $40 billion of capital markets and mergers and acquisitions activity. For more information, please visit www.mvolutionpartners.com
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business.
Follow Aon on Twitter and LinkedIn. Stay up-to-date by visiting the Aon Newsroom and sign up for News Alerts here.