Pixelligent raises $7.6M, adds strategic partners

Baltimore-based advanced materials manufacturer Pixelligent closed on $7.6 million in new funding, the company said.
The round was led by the Abell Foundation, which is a past investor in the company, as well as additional Baltimore investors such as TCP Venture Capital’s Propel Baltimore funds.
It also includes investments from a pair of strategic partners for the company, which manufactures nanocrystals dispersed in silicon to help more light shine through products such as electronic displays and lighting, among others. They are:

• Tokyo Ohka Kogyo Co. (TOK), a Japanese advanced materials maufacturer which will offer Pixelligent with expertise in formulation that can help the company in product development.
• Kateeva, a California-based developer of inkjet printing manufacturing equipment, which is a provider for the OLED and HD display market.

Both companies have been working with Pixelligent over recent months.
“Both of these companies are industry leaders in markets that are critically important to Pixelligent. Having companies of this caliber invest in, and partner with Pixelligent is a great validation of value we have created and the value we are delivering,” CEO Craig Bandes said in a statement.
Pixelligent, which is based near the border between Baltimore and Dundalk, also recently signed a partnership with optical lens maker Voxtel.