Micro-LED Chipmaker Sitan Technology Secures Several Financing Rounds
Shenzhen-based Sitan Technology announced on August 13 that it has completed several rounds of financing. The investors include China Fortune-Tech Capital, Xiaomi Industrial Investment Management Co., Ltd., Shunyu Industrial Investment Fund and Runke (Shanghai) Equity Investment Fund Partnership (L.P.), as well as financial investors such as Sequoia China, CCIG, Xiamen Venture Capital, Xiamen Qisheng Venture Capital Co., Ltd. and Qicheng (Xiamen) Equity Investment Management Co., Ltd.
Sitan Technology was established in October 2018 and is dedicated to the R&D and production of high-performance micro-LED chips and display modules. It has built China’s first micro-LED dedicated pilot line in Longhua District, Shenzhen, to start product validation and small batch trial production of micro-LED chips and display modules.
Micro-LED is the new generation of display technology, with advantages such as high brightness, high resolution, wide color gamut, low power consumption, long life, and more. It can be widely used in AR/VR/XR applications, intelligent mobile devices, car displays, and more. It is also a core hardware of the future metaverse industry.
In terms of its industrial layout, Sitan Technology is committed to tackling core technologies such as chip design, and it promotes the development of micro-LED new display industry together with many industries. In 2020, it completed a pre-A round of financing led by China Fortune-Tech Capital, Shenzhen Septwolves Shenglian Equity Investment Fund Co., Ltd. and QiCheng (Xiamen) Equity Investment Management Co., Ltd. Also in 2020, Sitan Technology completed the second phase of the pilot line and put it into use, further improving its R&D platform.
SEE ALSO: JHETECH Bags Tens of Millions of Yuan in Round-A++ Financing Led by Xiaomi
Last year, Sitan Technology completed exclusive A-round strategic investment from Xiaomi Industrial Investment Management Co., Ltd., and strengthened the industrial synergy between the two sides in the field of consumer electronics. In March 2022, Sitan Technology completed round-A+ financing led by Sequoia China, followed by Shunyu Industrial Investment Fund and Xiamen Venture Capital, further strengthening the industrial layout in the XR field.
In addition, Sitan Technology has applied for nearly 500 independent intellectual property rights and has authorized more than 200 items in the AR field, forming a relatively complete technical barrier for the micro-LED industry.