QD Vision, a US-based manufacturer of optical components for visual displays backed by DTE Energy Ventures, the corporate venturing arm of local utility DTE Energy, has raised $20m in its series E round. DTE Energy Ventures joined the round, as did other existing investors, venture capital firms North Bridge Venture Partners, Highland Capital Partners, Passport Capital, Novus Energy Partners and Capricorn Investment Group. In-Q-Tel, which invests on behalf of the US intelligence services, also increased its stake, which took the company’s total fundraising to $70m. The series E round will be used to expand production. QD Vision has developed a product, Color IQ, which is used to improve the colour performance of liquid-crystal display (LCD) screens—used in Sony high definition televisions—as well as a range of efficient lighting products. Its technology has won a number of industry awards. Jamie Goldstein, partner at North Bridge Venture Partners, said: “Color IQ delivers a far more immersive viewing experience, and will change the way consumers see televisions and ultimately other LCD displays.  We look forward to seeing the products in the market place.” The company raised $6m in series A funding in 2005, $9m in series B in 2008, $10m in series C in 2009 and $3m worth of venture round funding the following year. A $22m series D followed in May 2011.

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