Among various types of graphitic nanomaterials, graphene quantum dots (GQDs) have ignited tremendous interest in the past few years owing to their small lateral size, quantum confinement, and large perimeter per mass. GQDs are categorized based on their emitting colors (e.g. blue, green, yellow, red and white). Among various emitting colors, GQDs with blue and red emission are of paramount importance and used in a wide array of applications, such as bioimaging, LEDs, transistors, waste-water treatment, solar cells, biosensors and drug delivery.