Aveso raises $1m for electro-active display technology


Fridley-based Aveso Aveso Displaysrecently raised $1,040,000 in equity financing according to a document filed with the SEC on July 30th, 2010.

Aveso is a provider of thin, durable and flexible patented (6879424; 7599192; 7054050; 11/961,412) electro-active ink technology for high volume,  mass consumer applications such as credit cards, sensors and smart labels.  The company’s products are specifically designed for situations where it’s historically been impractical or impossible to integrate displays due to cost, form factor or scalability.

Aveso’s low voltage operation (<1.0V) allows for display drive code to be loaded onto customer-specific silicon or low-cost, general purpose microprocessors. The displays can also be driven via Radio Frequency (RF) energy for contactless applications.

Spun out of Dow Chemical in 2004,  Aveso closed $6.25m in series B in October 2006 then hit $6.6m of a $10m third round target last April.  Aveso’s investors include: ARCH Venture Partners, Duchossois Technology Partners, Kidron Corporate Advisors LLC, Frazier Technology Ventures and UPS Strategic Enterprise Fund — the private equity strategic investment arm of the United Parcel Service of America.

*Aveso did not comment on this article