Behind the lasers and mirrors, Prysm is turning from a scrappy start-up to a major player. The company is announcing today an additional $100 million in equity funding, bringing their total raised financing to $135M. This latest round of funding comes Partech International and Artiman Ventures along with several global unnamed investors that wish to remain anonymous due to the innovative nature of Prysm’s technology.
The large round allows Prysm to start volume production of its displays as well as build a 150 member global support team. Amit Jain, founder and CEO of Prysm indicated in a released statement today that the funds will be used in part to train personal and support Prysm operations in 11 major worldwide markets.
Prysm, formally Spudnik, started demoing its novel large venue displays in 2010. The technology utilizes laser diodes and a surface-emissive phosphor panel in an affair much like that of a laser printer. Once directed by a mirror, the laser turns the phosphorus red, blue or green thus producing a flicker-free image that’s also void of motion blur. Prysm has built the LPD technology into panels that can be combined to produce a massive display. Best yet, it’s energy-efficient and an 80-inch screen only uses 100 watts; a 225-inch display (yep, they get that big) uses less energy than a hair dryer. Prysm states that amount is less than a third of today’s conventional displays.
Breaking into the display business is tough. Consumers and corporations alike tend to opt for traditional and proven technology rather than betting on upstarts. Despite the big claims of its groundbreaking technology, Prysm will be paddling against the display adoption current for a while. At least now they have the wind of an additional $100 to their back.
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