Chengdu Chenxian raises hundreds of millions for Micro-LED push
What's the deal? Chengdu Chenxian OptoelectronicsDealroom has a profile for this one. Try Dealroom → has closed a Series B round worth several hundred million yuan.
The round was led by the Sichuan Advanced Manufacturing Guidance Fund, managed by CICC Capital.
Backers include CCB InvestmentDealroom has a profile for this one. Try Dealroom →, Ceyuan CapitalDealroom has a profile for this one. Try Dealroom →, Chengdu Science and Technology InvestmentDealroom has a profile for this one. Try Dealroom →, Gaoxin Beite, Jiaozi Capital, Oriental Fortune CapitalDealroom has a profile for this one. Try Dealroom →, and Zhiro Capital.
Why now? Chenxian specialises in Micro-LED displays, covering research, mass production, and sales.
In 2021, it built mainland China's first Micro-LED pilot line spanning LTPS driver backplanes, mass transfer, repair, and modules. It has since launched the world's first 102-inch P0.5 TFT-based Micro-LED tiled screen and broken ground on the first TFT-based Micro-LED production line.
The new funds will go towards building mass-production lines and cementing its lead in the field.
What could go wrong? Micro-LED remains costly and hard to manufacture at scale, with mass transfer and yield still major hurdles.
Scaling from pilot lines to full production is where many display makers stumble.
The signal: Now at breakout stage, Chenxian has moved from building mainland China's first Micro-LED pilot line in 2021 to breaking ground on the world's first TFT-based Micro-LED production line, and this Series B is squarely aimed at bridging the gap between pilot and mass production. The involvement of state-managed vehicles such as the Sichuan Advanced Manufacturing Guidance Fund alongside investment funds like CICC Capital, CCBDealroom has a profile for this one. Try Dealroom →, and Oriental Fortune CapitalDealroom has a profile for this one. Try Dealroom → underlines how China's advanced-display ambitions are being underwritten by both public and private money.
Read more: IT桔子
Photo: Snehit Jamere / Wikimedia Commons, CC BY-SA 4.0
