Bright View Technologies, a 2002 startup with technology licensed from Duke University, is hiring people and moving closer to product launch.
Bright View also has $7.5 million in the bank, having closed on a third round of venture capital.
The company, which is focused on improving the quality of rear projection televisions as well as optical displays such as liquid crystal screens, has now raised $15 million.
“The funds will be used for new product development,” company co-founder and Chief Executive Officer David Reed told WRAL Local Tech Wire. “We will be expanding over the next year,” he added, noting that Bright View plans to hire 10 additional people, expanding its headcount to 30. Hires are being made in engineering, optics and business development.
Battery Ventures led the latest round of funding. Also participating were angel investor groups from the Triangle, the Piedmont, Charlotte and Charleston SC.
Bright View has developed technology that improves the quality of light management, producing brighter and sharper images. Products under development include GigaScreen for rear projection televisions and X-Lamps for use in optical displays.
“We are progressing very nicely,” Reed said in terms of product development. They are targeting the “2007 time frame” for product release.
Bright View has already secured an unidentified Asian partner to help in production of products for rear projection TVs, Reed said.
Reed has hopes that Bright View’s technology will give a boost to rear projection TVs, which lack the quality definition and brightness of LCD and plasma screens.
“Rear projection TVs are quite a bit less expensive,” Reed said, but the Bright View technology will provide a “quality advantage”. The GigaScreen product will produce “higher contrast, higher resolution and better visibility,” he added.
Bright View Technologies: www.brightviewtechnologies.com