DSM Venturing has led a $2.5 million Series A round of financing in QD Solar Inc. Existing investors, KAUST Innovation Fund of Saudi Arabia, and MaRS Innovation also participate in the financing.
QD Solar is a winner of the 2016 SunRISE TechBridge Challenge, a competition organized by Royal DSM, Fraunhofer, and Greentown Labs to realize innovations in Solar Energy.
QD Solar first product, an insert into conventional silicon solar panels, has potential to increase energy output of solar panels by 20%. QD Solar’s technology development is also supported by Sustainable Development Technology Canada (SDTC) with a $2.55 million grant in March 2016.
DSM Venturing, the venture capital arm of Royal DSM, has offices in Geleen, The Netherlands, and Cambridge, Massachusetts. Its Canadian portfolio companies also include Interface Biologics Inc.
KAUST Innovation Fund
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