Nanosys to Use New Funding Round on Development of QDCC, QDEL Displays

Nanosys will use its latest $15 million round of equity funding (see 1805310053) to speed development of the next generation of quantum dot technologies “on our roadmap,” Jeff Yurek, director-marketing and investor relations, emailed us Thursday. At Display Week, Nanosys showcased a “technology road map” that foretold of coming advances in QD color conversion (QDCC) patterning and QD electro-luminescent (QDEL) materials, said Yurek. With QDCC, “new levels of color volume performance and manufacturing throughput are possible for LCD, OLED and microLED displays, said the road map. QDEL is the material of the future for self-emissive displays, and will “finally make low-cost, ultra-thin and flexible” display form factors “a reality,” it said. The latest funding round is the third such private equity offering Nanosys has made in the past 38 months, SEC records show. Nanosys raised just above $10 million in a March 2015 offering, and slightly more than $15 million in a September round. As a private company, “historically, we have not disclosed strategic investors in these types of filings so I cannot give you a name here,” said Yurek. “This is a new, strategic investor.” Of the $5 million in equity that remains to be sold in the latest round, “we are now closing the first roughly $2M of that tranche and in active discussions with a number of others on the remaining balance,” he said. “There’s an additional ~$3 million potentially available for investment in this round.”