Intematix, a material discovery company based in Fremont which specializes in supplying phosphors used for solid-state lighting and displays, said it has raised $16.5 million in a third round of venture capital.

Solid-state lighting, in which light is emitted from solid objects (light-emitting diodes, or LEDs), and not from a gas, does not waste as much energy as traditional sources of light. It has been termed a technology of the future.

The financing was led by Crosslink Capital and Samsung Ventures, and included new investor Sumitomo Corporation subsidiary Presidio STX. Existing investors Draper Fisher Jurvetson, East Gate Capital and Pacifica Fund participated.

The company says advances in LEDs are advancing as rapidly as in semiconductors.

According to its release:

Moore’s Law, coined by Intel founder Gordon Moore, is often broadly applied to the rapid pace of technology development with its prediction of a doubling of computer processing power being achieved in 18 months intervals. The LED equivalent is known as Haitz’s Law, posited by retired Agilent researcher Dr. Roland Haitz, which has accurately predicted a doubling of LED brightness every 18 to 24 months.