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Low-power display technology developer Pixtronix Inc. of Andover has taken in $4 million in an offering of debt, options and warrants, according to a filing with the U.S. Securities and Exchange Commission.
Pixtronix offers display technologies based on the integration of microelectromechanical systems (MEMS) and thin-film transistor (TFT) technology, and markets its products to companies that design and manufacture high-resolution, low-power displays for devices such as smart phones. For example, last year, Pixtronix and Hitachi Displays Ltd. entered into a development deal under which the two companies said they could make mobile multimedia displays based on Pixtronix’ PerfectLight MEMS display technology that draw as little as 25 percent of the power of a similar size LCD display.
The most recent funding is at least the third for Pixtronix. In 2009, Pixtronix brought in $19 million in an equity round involving returning investors Atlas Venture and Kleiner Perkins Caulfield Beyers. Earlier in 2009, the company reported a $2.7 million debt and options deal.
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