Pixelligent Technologies, a Baltimore, MD-based advanced materials company, closed a $5.5m new equity funding.
This round included support from (unnamed) new family offices and existing investors.
The company, which has raised more than $23.0M to date, intends to use the funds to support its customer growth in Asia, the EU and the U.S., hire application engineers, product managers, manufacturing engineers, and staff scientists, and expand its marketing and distribution efforts globally.
Led by Craig Bandes, President & CEO, Pixelligent Technologies leverages nanotechnology to make PixClear™, a nanocrystal dispersions for demanding applications in the Solid State Lighting and Optical Coatings & Films markets. It can be incorporated into the most commonly used polymers, including silicones, acrylics, and epoxies, all while using industry standard manufacturing processes.
To support the growth coming out of the Asian market, the company appointed distributors and agents throughout Asia in 2014 and expects to do the same in the EU in 2015.
To date, Pixelligent has been awarded more than $10.0M in U.S. government grant programs.
FinSMEs
13/12/2014