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Nanosys has completed a $20 million investment round to enable the expansion and adoption of heavy metal free quantum dots. The company has raised a total of $250 million in lifetime revenue.
Quantum dots are nanoparticles of semiconductor material that emit light or electrons when energy is applied to them, and vice versa, generate energy when light is applied. The technology is being used more widely for emerging displays in consumer devices such as tablets, laptops, monitors and televisions ranging in sizes between 13 in and 98 in. Quantum dots not only provide a better image quality, color and brightness but are developed without using harmful heavy metals.
The market for quantum dot displays is expected to reach more than 10 million units in 2020. According to market research firm DSCC, this marks the first time the market has reached this milestone. The market is expected to rise to 28 million units by 2024, a 27.5% compound annual growth rate (CAGR). Currently, Nanosys’ technology can be found in 400 models of consumer devices.
The new investment funds will be used to scale Nanosys' business and generate further interest in the adoption of quantum dots.
Recently, Nanosys formed a sales distribution agreement with Nagase & Co. Ltd. to distribute Nanosys quantum dot materials for various applications worldwide. The company also entered into a quantum dot materials supply and service agreement with Shoei Chemical to manufacture quantum dot materials exclusively for Nanosys.
Read the original article on GlobalSpec.