QD Vision wins $14M in government contracts and venture funding

April 16, 2008
The awards will help QD Vision introduce its quantum-dot nanotech technology to markets such as consumer electronics, solid state lighting, defense, and security.
QD Vision has received more than $5M in government contracts from In-Q-Tel. In a separate announcement, the company has received $9M in venture capital financing from Highland Capital Partners, North Bridge Venture Partners, and In-Q-Tel for commercial ventures.

In the first contract, QD Vision has announced a strategic investment and technology advancement agreement with In-Q-Tel, a firm that identifies technology solutions to support the mission of the broader U.S. intelligence community. The agreement is the latest in a series of government contracts that QD Vision has secured, which total more than $5M.

QD Vision's Quantum Light product platform uses quantum-dot technology to create custom-colors in both the visible and the near-infrared spectrum when stimulated with photons or electrons. Leveraging a breakthrough patent portfolio from QD Vision and from MIT, the Quantum Light product platform reportedly sets new standards for color purity and brightness, power efficiency and design versatility.

QD Vision has secured more than $5 million in contracts from U.S. federal government agencies since early 2007, including In-Q-Tel, the Advanced Technology Program (ATP) of the National Institute of Standards and Technology (NIST), and the Air Force Office of Scientific Research (AFOSR).

“Government-sponsored R&D programs represent a vital part of QD Vision’s commercial technology development strategy,” said Seth Coe-Sullivan, QD Vision co-founder and CTO. “These programs have remarkable synergy with and directly support the core development of quantum-dot compositions, applications and device performance—all of which have tremendous value in a broad range of future commercial applications.”

Venture funding

In regards to these commercial applications, the second QD Vision contract will use the $9M raised in venture-capital financing — from two leading venture capital firms, Highland Capital Partners and North Bridge Venture Partners, and from In-Q-Tel — to launch the first QD Vision Quantum Light products into commercial markets.

“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 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.