Recently, international media reported that Rohinni, a Mini/Micro LED die bonding equipment manufacturer, has filed for bankruptcy liquidation in a U.S. court.
Founded in 2013 and headquartered in Liberty Lake, Washington, Rohinni made headlines in 2014 by creating the world’s lightest LED, named Light Paper, which was produced by combining ink with tiny LED lights and printing on a special conductive layer.
In terms of partnerships, Rohinni established a joint venture, Magna Rohinni Automotive, with electronics manufacturer Magna Electronics in 2018 to produce ultra-thin Micro LED lighting solutions.
That same year, Rohinni collaborated with K&S to develop the MiniLED die bonder PIXALUX™, achieving a production speed of up to 180,000 chips per hour and placement accuracy of ±10μm.
In 2019, Rohinni entered a partnership with BOE to form the joint venture BOE Pixey, where Rohinni holds a 35% stake. BOE Pixey primarily produces Micro LED and MiniLED solutions for display backlighting.
In die bonding technology, Rohinni announced a breakthrough in Mini LED transfer technology in 2021, introducing its new composite bond head technology. This advancement allowed Mini LED transfer speeds to reach 100Hz (100 transfers per second), which it claimed was the fastest at the time. Compared to its first-generation transfer technology, the new method doubled the transfer speed and cut costs in half.
In July 2022, Rohinni revealed that it had obtained four new patents related to high-speed die bonding processes in China, covering its latest die bonding technology. This technology enables die bonding equipment to place semiconductor chips at speeds exceeding 100Hz with an accuracy of less than 10µm, improving bonding speed by 33%.
Regarding equipment sales, in August 2022, Rohinni announced a procurement agreement for die bonding equipment with its joint venture BOE Pixey, which planned to purchase hundreds of new Mini LED die bonding systems for Mini LED backlighting and RGB display manufacturing.
Rohinni initially planned to begin mass production of die bonding equipment in 2023, aiming for sales growth in 2024.
However, reports indicate that Rohinni experienced poor performance in 2023, with revenues of only $137,500, a staggering 96% drop from the previous year’s revenue of $3.4 million.
Alongside this decline, Rohinni failed to secure new financing, leading to its inability to operate normally and eventually prompting the bankruptcy filing.
According to the bankruptcy documents submitted by Rohinni, the company currently has over $5 million in liabilities against assets valued at $40.4 million, which includes $128,000 held in Wells Fargo and most intellectual property under exclusive agreements with its Chinese joint venture.
Court documents indicate that Rohinni’s intellectual property comprises over 100 issued patents, three registered copyrights, and 13 active trademarks, valued at $2.1 million.
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