Innovision Secures Major Pre-A2 Financing
On March 18, Innovision, a prominent developer of Micro LED microdisplay chips, announced the successful completion of its Pre-A2 financing round, raising tens of millions of USD. The financing was led by Lihe Capital, with significant participation from existing investors Shengjing Jiacheng, Shanhan Fund, and Jiuhuo Venture Capital.
Funding to Fuel Mass Production and Technological Advancements
The newly acquired funds will primarily be used to construct a mass production line for Micro LED microdisplay chips and further advance the development of Micro LED chips using Vertically Stacked Pixels (VSP) technology.
Company Overview and Recent Achievements
Founded in 2021 and based in Suzhou, Innovision has a registered capital of approximately $380,000 USD. The company specializes in the design, research and development, manufacturing, and sales of Micro LED chips and devices. Innovision’s applications include displays, micro-projection, HUDs, AR/VR devices, and optical communications.
In recent years, Innovision has raised several rounds of financing, including angel, strategic, and Pre-A rounds. Notably, the 2022 Pre-A round brought in $2.7 million USD.
Overcoming Production Challenges with Innovative VSP Technology
To address key production challenges, such as high warpage, bonding difficulties, precise patterning, and the risk of delamination, Innovision developed the VSP (Vertically Stacked Pixels) technology. This wafer-level stacking solution simplifies the bonding process by eliminating the need for precise alignment, thereby facilitating mass production.
By growing gallium nitride on silicon substrates, Innovision is able to produce wafers larger than 8 inches, achieving high bonding yields, removing the need for substrates, and enabling precise patterning. These advancements increase luminous efficiency and production yields while reducing the overall costs of Micro LED displays.
Breakthroughs in Micro LED Display Technology
Leveraging VSP technology, Innovision has successfully developed and illuminated 0.39-inch and 0.12-inch Micro LED displays. The 0.12-inch display is particularly notable, with a brightness of several million nits and a pixel size of 3.75 μm, currently the smallest pixel size for VGA resolution displays in the world.
Early last year, Innovision completed the development and tape-out of 8-inch silicon-based Micro LED microdisplay chips, confirming the feasibility of large-scale production with VSP technology. This achievement positions the company well for future technological advancements.
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