Friday, April 11, 2008

QD Vision collects $9M in third funding round

Following its recently announced funding from In-Q-Tel, the venture arm of the Central Intelligence Agency, Watertown-based QD Vision Inc. has also landed $9 million of an expected $16 million round of Series C funding from private investors, according to documents from the U.S. Securities and Exchange Commission.

Investors in the light emitting diode (LED) technology developer include North Bridge Venture partners of Waltham and Highland Capital Partners in Lexington. The company landed a $7 million Series B round of funding in early 2007.

Last week, QD Vision, which is using quantum dot and nanoscale technologies to create clearer, brighter and more efficient display screens, landed additional funding from In-Q-Tel. While the amount of the funding was undisclosed, officials said the investment is one of several from government agencies over the past year that have brought in $5 million.

QD Vision's technology is based on the work of Vladimir Bulovic, an associate professor of electrical engineering and computer science at MIT, and Moungi Bawendi, a professor of chemistry at MIT focused on the synthesis of nanomaterials. Both men serve on the company's scientific board of advisers. Other founders include CTO Seth Coe-Sullivan and director of chemistry Jonathan Steckel.