Lake Mary Startup NanoPhotonica Raises $3.5M
NanoPhotonica, a Lake Mary nanotech startup developing electroluminescent quantum dot light emitting diode (EL-QLED) display technology, has raised a $3.5M investment round from Samsung Ventures and DeepWork Capital (formerly the FAN Fund). The investment will help the company further develop and commercialize its world-class quantum dot and related nanomaterial technology.
The Company's breakthrough EL-QLED device technology is based upon pioneering work by Paul Holloway, Distinguished Professor of Materials Science and Engineering at the University of Florida in Gainesville. The company's research lab is located at UF Innovate | The Hub in Gainesville.
"NanoPhotonica's device technology will cost-effectively unleash the full power of quantum dots on HDTV and smartphone displays, virtual reality, connected cars, signage and, in the near future, autonomous vehicles that will have multiple, bright displays in them for infotainment reasons," said Chris Morton, CEO, NanoPhotonica. "Essentially everywhere consumers need a high performance display that fits the needs of their electronics and environment." Morton added: "We are delighted to have Samsung Ventures and DeepWork Capital as investors. Their interest in, and support of, our nanotechnology reinforces the fact that NanoPhotonica is on track to play a major role in the evolution of high performance, cost effective displays, worldwide."