Following Apple’s decision to cancel the Micro LED version of its Apple Watch, the development of Micro LED technology has not stalled. Investors continue to show confidence in the future of Micro LEDs, with ongoing investments being made.
Recently, domestic Micro LED startup SiTan Tech has received investment from machine vision inspection equipment supplier Sidtek. In the future, Sidtek will collaborate with SiTan Tech to develop Micro LEDs, addressing the industry’s inspection needs.
Machine Vision Leader to Invest in SiTan Tech and Expand Micro LED Operations
On April 8, Sidtek announced its investment plan, revealing that it intends to invest 36 million RMB in Shenzhen-based SiTan Tech. This investment will involve subscribing to an additional 526,600 RMB in registered capital, representing a 1.94% ownership stake in the company post-investment.
Sidtek is a manufacturer of machine vision inspection equipment, with its main products including 3D solder paste inspection (3D SPI) and 3D automated optical inspection (3D AOI) equipment. These products are primarily used in the quality inspection stages of PCB SMT production lines and cover a wide range of end-user industries, including consumer electronics, automotive electronics, lithium batteries, semiconductors, and communication equipment.
Sidtek has established technological barriers in machine vision inspection technologies, including light source systems, software algorithms, and AI algorithms. Its equipment is already part of the supply chains for renowned companies such as Foxconn, Hikvision, Hongxin Electronics, Dahua Technology, Zhen Ding Technology, and Luxshare Precision.
In November 2023, Sidtek was listed on the Shenzhen Stock Exchange’s ChiNext board, achieving revenues of 368 million RMB and a net profit of 99 million RMB.
To further expand the application scope of its machine vision inspection equipment, Sidtek is investing in SiTan Tech. Sidtek sees significant potential in the Micro LED market, which integrates traditional semiconductor processes, micro LED chip manufacturing, bonding, and mass transfer technologies. The company is optimistic about the development potential of Micro LED display technology and plans to collaborate with SiTan Tech in this field.
Given the micrometer-level pixel pitch of Micro LEDs, inspection equipment requirements are more stringent. Sidtek plans to work with SiTan Tech to develop relevant technologies to meet the industry’s inspection needs and foster complementary advantages and collaborative development across the supply chain.
SiTan Tech Completes 10 Rounds of Financing in 5 Years
For SiTan Tech, this investment is part of its 10 rounds of financing over the past five years, with total funding exceeding 200 million RMB. Notable investors include Xiaomi, through its Xiaomi Yangtze Industry Fund, Seven Wolves and its venture capital arm, and Sequoia China.
Supported by multiple rounds of financing and its dedicated research into Micro LED technology, SiTan Tech now operates a pilot production line for Micro LEDs. The company has applied for over 600 Micro LED-related intellectual property rights and has showcased Micro LED display products ranging from 0.13 to 0.7 inches, with performance reaching up to 11,400 PPI. SiTan Tech has secured orders for Micro LED products from several downstream manufacturers and end-users.
With Sidtek’s involvement, SiTan Tech is set to benefit not only from financial support but also from enhanced inspection technology. This collaboration is expected to optimize both the production yield and scale of SiTan Tech’s Micro LED manufacturing.
Six Micro LED Companies Secure Latest Financing This Year
According to incomplete statistics from LEDinside, six Micro LED companies have completed their latest rounds of financing this year. In the past quarter alone, five Micro LED-related firms have secured new funding, covering aspects such as chips, drivers, packaging, displays, and equipment. Notable companies, including Innovision, MICLEDI, and VISTAR, have raised funding exceeding 100 million RMB.
While recent delays by major companies in adopting Micro LEDs have somewhat dampened enthusiasm for the technology, investors remain positive about its future prospects. Support for Micro LEDs continues across various segments of the supply chain, and with increased capital backing, the technology is poised for significant advancements.
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