Pixelligent, LLC, a Baltimore, MD.-based manufacturer of nanocrystal additives for the electronics, industrial and military markets, has closed $5.1m in funding.
Backers include the Abell Foundation, WISE LLC, and a Baltimore-based Angel group. The Baltimore Development Corporation (BDC), and the Maryland Department of Business and Economic Development (DBED) committed $200,000 and $100,000 respectively.
The company intends to use the funds for purchasing production equipment, installing new systems and hiring employees for a number of senior manufacturing, sales, and finance roles.
Led by CEO Craig Bandies, Pixelligent Technologies has developed Zirconium and Hafnium nanocrystal additive technology, which has commercialization potential in many market areas including, electronics, lubricants, energy, transportation, and building and construction.