Pixelligent Technologies, producer of PixClear, nanocrystal dispersions for applications in the electronics, semiconductor, and industrial markets, announced that it closed $5.1 million in new equity funding. The funds will be used to further accelerate the scaling-up of its manufacturing capacity and to hire application, engineering, and business development employees.
The company hopes to build plants in the region, including Delaware. The company is based in the Baltimore area.
This round included expanded participation from both new and existing investors. The lead investor was once again the Abell Foundation and the company continued to receive support from its investor base with a follow-on investor participation rate of more than 85%.
During the past five years, Pixelligent has raised $14 million equity funding and has been awarded more than $9 million in U.S. government grant programs.