The lighting company working out of the Portland State University Business Accelerator is on course to raise $3m.

Pacific Light Technologies, a lighting company working from the Portland State University Business Accelerator, is set to raise a $3m round, according to Sustainable Business Oregon.

The company is on course to raise $3m, having raised a $2m A round and is set to close another $1m investment by the end of July, Sustainable Business Oregon said.

The company is working from the Portland State University Business Accelerator, and the round was led by venture firms Oregon Angel Fund and Pivotal Investments.

In January Pacific Light acquired the quantum dot intellectual property from SpectraWatt, which filed for Chapter 11 last year. Pacific Light has a $250,000 research and development grant from the Oregon Nanoscience and Microtechnologies Institute.

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