On February 13, 2017, QD Solar Inc. ("QD Solar") announced that it had secured $2.5 million in a Series A financing. The round was led by Dutch venture capital firm DSM Venturing B.V. ("DSM Venturing") with participation from MaRS Innovation and Saudi Arabia’s KAUST Innovation Fund.
QD Solar is a Canadian technology company created by MaRS Innovation and the University of Toronto. QD Solar's proprietary quantum dot-based solar cells use nano-engineered, low-cost materials that can absorb the otherwise wasted infrared light.
DSM Venturing is a global science-based company that is an active investor in start-up companies, which create innovative products and services in Life Sciences.
MaRS Innovation is the commercialization agent for 15 of Ontario’s leading academic institutions, including the University of Toronto and its ten research hospitals, as well as Ryerson University and York University. Collectively, this group invests almost $1.5 billion annually in scientific research.
KAUST (King Abdullah University of Science and Technology) is a private research university located in Saudi Arabia.
Osler, Hoskin & Harcourt LLP represented DSM Venturing with a team consisting of Chad Bayne, Jay Greenspoon, and Daniel Zuniga (Corporate).