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Quantum Dot, MicroLED Pioneer Nanosys Secures Over $50M in Growth Capital Financing
July 26, 2022 | Business WireEstimated reading time: 1 minute
Nanosys, the industry innovator and leading supplier of quantum dot and microLED technologies for advanced displays, announced that it has raised more than $50 million in Series B equity and debt financing. The initial close of this round includes as new investors funds managed by affiliates of Fortress Investment Group, Centerbridge Partners and Kilonova Capital.
“This is a major milestone for Nanosys, adding capital and resources needed to enable us to expand our development of industry-leading innovative technologies, including quantum dots, microLEDs and nanoLEDs, which will be rapid growth drivers for 2023 and beyond,” said Jason Hartlove, President and Chief Executive Officer of Nanosys. “We are pleased to partner with Fortress, Centerbridge and Kilonova. The commitment from these respected institutions provides strong validation of our business model, team, intellectual property and market opportunity.”
The Series B financing round, Nanosys' largest to date, supports the continued rapid expansion of QDEF™ and xQDEF™ quantum dot technologies for LCDs, and drives the commercialization of Nanosys microLED technology platform as well as the development of next-generation nanoLEDs.
"Nanosys has built an exceptional business powered by proven, innovative technologies protected by strong intellectual property," said James Palmer, Managing Director of the IP Finance Group at Fortress. “We are excited to provide a capital solution that positions Nanosys for significant growth in the years ahead.”
“Jason and the Nanosys team are poised to drive excellent performance and exciting innovation in the display industry,” said Shanshan Cao, Senior Managing Director at Centerbridge. “We look forward to our partnership and supporting the Company in the next stage of its growth.”
Wes Goldstein, a Founder and Partner at Kilonova Capital, added, “We have developed significant conviction that quantum dot enabled LCD displays will experience strong growth over the next several years and look forward to partnering with Nanosys.”
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