QD Vision, a US-based developer of lighting equipment backed by local utility DTE Energy’s corporate venturing unit, has raised $22m to take its total raised since launch in 2004 to $55m.
Alongside DTE Energy Ventures in the consortium were In-Q-Tel, which invests on behalf 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 Energy Ventures previously invested $3m in QD Vision in January last year following a $10m initial close of funding in December 2009.
At the time, Knut Simonsen, president of DTE Energy Ventures, said: "QD Vision’s Quantum Light platform will help lighting and display manufacturers reduce the carbon footprint of their products even as they continue delivering higher quality, better efficiency and lower costs for customers. This technology promises to set a new standard for these multi-billion dollar global industries."
He added by email that QD hoped to do a product launch early next year with an original equipment manufacturer.
Mike McNalley, director of energy efficiency and business energy services at DTE Energy, added: "We look forward to creating more LED [light-emitting diode] lighting options for our customers with QD Vision products. We plan to encourage QD Vision to team up with Michigan based LED lighting companies and broaden their market reach."
Jason Carlson, chief executive of QD Vision, said after the latest funding: "We expect to see products in the market next year that offer incredible colour performance by incorporating our Quantum Light products."