QinetiQ leads £10.5m funding round for ZBD Displays Ltd

22 Mar 2007

Fundraising will allow ZBD to roll out zero-power electronic displays to the global retail market

Fundraising will allow ZBD to roll out zero-power electronic displays to the global retail market

QinetiQ has invested an additional £3.5 million in ZBD Displays Ltd, as the lead in a £10.5 million funding round. ZBD, the first spin-out from QinetiQ, was established in July 2000 to commercialise zero-power Liquid Crystal Displays (LCDs). The company will use the new funding to develop its emerging business as a future major supplier of a new generation of electronic retail signage, to continue to strengthen its manufacturing supply chain operations, and engage in international expansion.

Existing investors Prelude Trust plc, the Dow Chemical Group, the TTP Venture Fund and QinetiQ Group plc contributed 50 per cent of the funding round, with the balance coming from new investors Lansdowne UK Equity Fund and Esprit Capital Fund 1.

Hal Kruth, MD QinetiQ Ventures said: “ZBD is the founding member of QinetiQ's ventures portfolio and is well on track to becoming a successful global business. This funding round will enable ZBD to gear up for widespread commercialisation of its zero-power electronic displays and ensure that it is well placed for a stock market flotation in the future.” ZBD has developed a unique bi-stable Liquid Crystal Display drawing on QinetiQ's 30 year heritage in the development of LCD technology. The company delivers 'electronic point of purchase' (epop) solutions as replacements for paper-based signage, providing dynamic wireless pricing that allows retailers to reduce product wastage, provide more information to customers and compete with online retailers. Successful pilots have been conducted with major retailers including Tesco and ZBD has established supply chain partnerships with specialist manufacturers in Europe and China.

Clive Mayne, CEO of ZBD commented: "Our focus has always been to apply our innovative technology to resolve real business issues. We have worked with some of the best known names in retail and as a result, we have built a solution where the business benefits speak for themselves. We’re now in a strong position to start reaping commercial benefits and this new round of funding gives us the platform to deliver our growth plans on a global level."

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QinetiQ leads £10.5m funding round for ZBD Displays Ltd