Canada-based solar cell developer QD Solar has raised a total of C$10m ($7.6m) in series A capital from investors including DSM Venturing, the corporate venturing subsidiary of advanced materials provider DSM.
DSM Venturing, along with existing investors Mars innovation and Kaust Innovation Fund, provided C$2.5m of the funding. Sustainable Development Technology Canada awarded C$2.5m of the round as a grant in March 2016 while the rest was supplied by undisclosed investors.
Founded in 2014 and incubated by Mars Innovation, QD is working on quantum dot-based solar cells that will be able to absorb infrared light not otherwise used for power generation. The technology could potentially increase energy generation in solar modules by up to 20%.