QD Vision Inc., a Lexington nanomaterials company that makes Color IQ optical components for LCD applications, said Friday that it closed a $20 million round of financing that will be used to further expand high volume production capacity and to fund long term company growth.
This latest round of financing includes support from all existing investors --- North Bridge Venture Partners, Highland Capital Partners, In-Q-Tel, DTE Energy Ventures, Passport Capital, Novus Energy Partners, and Capricorn Investment Group, the company said in a press release.
“Since the public announcement of our Color IQ product launch in select Sony LCD TVs at the Consumer Electronics Show in January, QD Vision has been very focused on production ramp up activities,” chief executive Jason Carlson said in a statement. “I appreciate the continued strong support of our investors, as we aggressively expand our high volume manufacturing operations and continue to build the global QD Vision team.”
According to the company, Color IQ significantly improves LCD color performance. Until now, most mainstream LCD TV designs have had to sacrifice color quality, typically only delivering 60-70 percent of the NTSC color standard. Color IQ increases typical LCD color performance by up to 50 percent and is capable of delivering 100 percent of the NTSC standard, QD Vision said.