QDI Systems to Receive up to $7.5M in Funding

QDI Systems, a developer of quantum dot-based imaging technology, has received a €2.5 million ($2.6 million) grant from the European Innovation Council. Total funding available through the grant and accompanying equity financing is up to €7.5 million.

QDI Systems plans to use the funding to scale its nanomaterial quantum dot technology for SWIR and x-ray applications. The company, a 2019 spinoff of the Zernike Institute for Advanced Materials at the University of Groningen, previously raised $5.4 in a Series A funding round last year. Since then, QDI Systems said it has increased its customer base tenfold.

The nanomaterial quantum dot technology provides higher-quality imaging and lower radiation doses for SWIR and x-ray imaging, the company said. The technology platform has applications in medical imaging, industrial sorting processes, and consumer applications including facial recognition.