QD Vision, the leader in quantum dot technology for QLED displays, today announced a new round of investment led by Tsing Capital and BASF Venture Capital, prominent venture capital entities in Europe and China focused on innovative cleantech companies.
This new round of QD Vision financing – totaling approximately $22 million from both existing investors and new investors – will be used to invest in further development of intellectual property inventions and to support the company’s accelerating growth.
QD Vision also announced a new joint development agreement with BASF Group for a quantum dot-enhanced backlight and a color filter for use in LCD displays. The two companies will target growing demand for wide color gamut technologies, particularly those focused on achieving the Rec. 2020 color standard. Wide color gamut technology will enable displays to show millions more colors than today’s UHD or 4K displays.
“This latest infusion of capital signals investor confidence in QD Vision and the strong growth potential of the quantum dot market,” said Mustafa Ozgen, CEO of QD Vision. “We have established solid industry leadership in color performance, low energy use, environmental safety, and affordability of our Color IQ™ technology. We look forward to working with our new partners to continue to extend our quantum dot market penetration into the fullest range of hardware and content platforms.”
“QD Vision has demonstrated its commitment to developing energy efficient, environmentally friendly quantum dots for LCD displays, and the company has distinguished itself as the preferred choice of Chinese TV manufacturers,” saidMichael Li, Managing Partner, Tsing Capital, the leading cleantech venture capital firm in China. “With its global leadership profile and extensive operations in China, QD Vision is a natural fit for our China Environmental Fund.”
“QD Vision’s products allow an unmatched LCD viewing experience with significantly lower energy consumption. We expect that the innovation will find widespread application in next generation LCD devices,” said Dirk Nachtigal, Managing Director at BASF Venture Capital.
“The fact that current standard LCD technology is capable of displaying only around a third of the colors a human eye can see indicates the improvement potential in this field. Combining QD Vision’s Color IQ technology with BASF’s competencies in color filters will allow us to jointly develop advanced display materials matching next generation display color standards,” said Jeff Knight, Senior Vice President Dispersions and Pigments Asia Pacific at BASF and responsible for BASF’s Electronic Specialties business.