QD Vision Closes New Funding Round Adding Tsing Capital and BASF Venture Capital as Investors
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,” said Michael 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.
About Tsing Capital
Established in 2001, Tsing Capital is the leading cleantech venture capital firm in China. Through its China Environment Fund series, Tsing Capital works intimately with its portfolio companies across China in areas of new energy, energy efficiency, environmental protection, cleaner production, sustainable transportation, new materials and sustainable agriculture.
About BASF Venture Capital
BASF Venture Capital GmbH was established in 2001 as a wholly owned subsidiary of BASF New Business GmbH, Ludwigshafen, Germany, with the aim of exploring new growth potentials based on investment in startup companies and funds. More information is available at www.basf-vc.com.
At BASF, we create chemistry – and have been doing so for 150 years. Our portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. As the world’s leading chemical company, we combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of over €74 billion in 2014 and around 113,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.
About QD Vision, Inc.
QD Vision, Inc. is a leader in quantum dot display technology for QLED (Quantum-dot LED) displays. Quantum dot technology is a superior next-generation alternative to OLED displays, providing unparalleled color representation at a highly competitive LCD cost structure. Color IQ quantum dot technology from QD Vision provides a unique optical component solution capable of delivering “full-gamut” color to the display industry. Founded in 2004, the company has raised more than $100 million in financing from top-tier venture capital firms and is headquartered in Lexington, Massachusetts. http://www.coloriq.com
COLOR IQ, QLED, and QD VISION are trademarks of QD Vision, Inc. The COLOR IQ and QD VISION trademarks are registered in one or more countries.
Jenna Beaucage, 508-475-0025 x124
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