On Tuesday, Baltimore, Md.-based advanced tech materials company Pixelligent Technologies announced it had raised a $3.4 million convertible debt round to expand its nanocrystal manufacturing business.
“Pixelligent continues to realize increased demand for its nanocrystal dispersions, predominantly driven by the leading LED package manufacturers and the leading OLED lighting producers,” Craig Bandes, President & CEO of Pixelligent, said in a statement.
The convertible debt raise will be used to “support accelerating customer growth” and so that the company can expand its manufacturing capabilities.
The company develops materials that are used to create led and OLED lighting applications. It divides these applications into “solid-state lighting, optical components and film.” The round means that to date Pixelligent has raised over $26.0M in equity funding
Bandes added,“Pixelligent's high-index and transparent zirconia nanocrystals are considered the best in the world by numerous experts and are becoming increasingly important in delivering more light [for devices.”
