US-based display technology developer QD Vision secured $22m in a funding round yesterday co-led by BASF Venture Capital, the corporate venturing unit of the chemical producer, and venture capital firm Tsing Capital.
The round also featured a range of new and existing, unnamed investors. BASF and QD Vision have entered a strategic partnership as part of the deal to develop displays that are capable of showing several more million colours than today’s ultra-high definition technology.
Founded in 2004 as a spinout of Massachusetts Institute of Technology, QD Vision produces displays that offer a wide colour range but are energy-efficient and can be manufactured at a low cost.
The money will support further development of the technology and accelerated growth.
QD Vision has raised approximately $123m to date. DTE Energy Ventures, the corporate venturing division of the utility company, participated in a $22m round in 2011 alongside In-Q-Tel, the investment vehicle of the US intelligence services, and venture capital firms Passport Capital, Novus Energy Partners Capricorn Investment Group, North Bridge Venture Partners and Highland Capital Partners.
DTE also participated in a $20m funding round in 2013, alongside North Bridge, Highland, Passport, Novus, Capricorn and In-Q-Tel.
Jeff Knight, senior vice-president of dispersions and pigments Asia Pacific at BASF, said: “The fact that current standard LCD technology is capable of displaying only around a third of the colours a human eye can see indicates the improvement potential in this field.
“Combining QD Vision’s Color IQ technology with BASF’s competencies in colour filters will allow us to jointly develop advanced display materials matching next generation display colour standards.”