ZBD Displays, a UK-based provider of electronic paper pricing and information displays, has raised $36m from a consortium including Dow Chemical’s corporate venturing unit as it prepares its flotation.
Alongside Dow Venture Capital in the round are an undisclosed hedge fund, secondaries investor Coller Capital and venture capital firms DFJ Esprit (after its merger with Prelude), Cody Gate Ventures (which is part-funded by Coller) and TTP Ventures.
ZBD previously raised £2.7m ($4m) in 2006 after being one of the first spin-outs from the UK’s Defence Evaluation and Research Agency, now called Qinetiq, in 2000.
ZBD said it expected more than $50m in revenues next year.