Pixelligent secures $38M to accelerate commercialisation
Pixelligent Technologies LLC (Baltimore, Maryland) has secured $38 million in non-dilutive growth capital backed by its intellectual property portfolio. The capital was provided by a funding vehicle managed by MVolution Partners LLC and facilitated by insurance and valuation services provided by Aon. This additional growth capital brings the company’s total funding in this round to over $45 million, including equity capital from its strategic and financial shareholders.
Pixelligent’s products are used by leaders to enable AR/MR devices, OLED/Mini and MicroLED displays, optical/LIDAR sensors, and industrial applications. The PixClear, PixNIL, and PixJet brands are the industry’s leading high-refractive index formulations and materials, and essential foundational technologies for advanced electronics products. They deliver a combination of properties, operating efficiencies, and unprecedented performance.
The company will use the growth funding to accelerate and expand commercial activities in its target markets in partnership with leading consumer electronics companies, and leverage its proprietary PixClearProcess platform to develop new synthetic metal oxides and applications.
“Thanks to Pixelligent’s award-winning manufacturing platform, nearly 90 patents, and dozens of trade secrets, we were able to secure attractive debt financing at a pivotal moment in Pixelligent’s growth trajectory,” said CEO Craig Bandes. “MVP and Aon quickly understood the value of Pixelligent’s proprietary assets and were excellent to work with throughout the process. We are grateful to all parties involved in successfully completing this transaction. The funding will help us support our customers as we bring numerous mass-production applications to market in 2023 and beyond.”
“We are excited to support Pixelligent’s next phase of value creation with our growth capital solution,” said Mike Weinmann, founding partner at MVolution Partners. “MVP is committed to helping companies with significant IP unlock the value of their intangible assets and accelerating sustainable and responsible innovation through non-dilutive debt financing.”
“Innovation is a critical ingredient for the growth economy, but intellectual property is its foundation. Aon is working with IP-rich companies like Pixelligent to help leverage the value of their intangible assets,” said Lewis Lee, CEO of Aon’s Intellectual Property Solutions. “It was a pleasure to assist the teams at Pixelligent and MVolution Partners in connection with their insured IP debt financing, which helped unlock the value in Pixelligent’s IP.”
Caption: Pixelligent secures IP-backed financing to accelerate commercialisation (photo: Pixelligent/EIN Presswire)