Raysolve Raises Another US$10 Million to Accelerate Mass Production of Full-Color Micro-LED Micro-Display

Raysolve, a leading Micro-LED startup announced today that it raised US$10 million in Pre-Series A+ and Pre-Series A++ financing led by Inno-chip and AAC Technologies respectively, along with existing investor Gaorong Capital. The funds will be used to accelerate the R&D of Raysolve’s full-color Micro-LED micro-display and team expansion, preparing for the upcoming small-scale mass production.

Raysolve has completed angel round and pre-series A round of financing in 2021, with participation from Source Code Capital, Gaorong Capital and Glory Ventures. With the announcement, Raysolve successfully introduced industrial resources from Will Semiconductor and AAC Technologies. In the future, the three parties will give full play to their industrial synergy advantages to provide the global market with disruptive micro-LED solutions, which will support AR products with a new dimension.

Founded in 2019, Raysolve is dedicated to the R&D of Micro-LED micro-display technology, in particular chip architecture, fabrication processes and the development of single-chip, full-color technology. The core team stemmed from the Hong Kong University of Science and Technology (HKUST) with decades of experience in the design and manufacturing of cutting-edge microchips. Raysolve’s proprietary single-chip full-color micro-LED micro-displays enable and empower the next generation of real AR/MR applications with bright, portable and light-weighted solutions.

The global market for AR Glasses grows fast this year due to Metaverse. Recently, Google released the AR concept machine for special groups, and Qualcomm also released reference design of the integrated AR glasses. Consumer-level AR glasses have gradually become the focus of high-tech giants and startups.

“Lightweight, high brightness, full-color display and durable battery life are the inevitable demands for consumer-level AR glasses.” Dr. Wing Cheung CHONG, the founder and CEO of Raysolve said. In order to attain mass-market use, companies offering AR glasses are required to achieve a perfect balance of functionality, wearability and affordability, which puts forward higher request for optical system. Although micro-LED technology has significant advantages, how to achieve full-color display and high-yield mass production is still one of the most important technical bottlenecks.

There are various technical route for full-color display in the industry. At present, the most common one is the combination of three color through a cube. Due to the large volume and high cost of optical machine, it’s not the best applicable solution the future lightweight AR glasses. Raysolve disruptively uses the scheme of quantum dot color resist and redefine the monolithic integration technology to achieve full-color display on a smaller chip, which enables the further miniaturization of AR glasses. Meanwhile, our existing 8-inch wafer bonding technology enables high-yield mass-production. The single-chip full-color Micro-LED micro-display chip of Raysolve will greatly simplify the optical module even the whole display system, providing more optimization space for the next generation of AR glasses.

Dr. CHONG said, “We are honored to receive trust and continuous support from our investors. The synergy between players in both upstream and downstream is critical. As we continue to develop strategies to align with targeted market, involvement from the established leaders such as Will Semiconductor and AAC Technologies will complement our current expertise and business networks, and position us strongly in the relevant ecosystems. We will take full advantage of industry synergy to get ready for the inflection point of AR market. ”

Mr. Zhenhua WANG, the Deputy GM of Inno-chip, said, “The COVID-19 crisis brought great opportunities for AR industry. The win-win partnership will bring together Raysolve’s unique Micro-LED technology and Will’s professional layout in the semiconductor market to create more value for future XR industry. The founding team of Raysolve has broad experiences for more than 15 years, we are confident that Raysolve’s proprietary full-color micro-LED micro-display will allow the realization of consumer-level AR glasses and become a world-leading micro-display company. ”

Mr. Yan MA, the Director of Strategic Development of AAC, said, “Metaverse is still in its infancy, the perfect integration of vision, sound, and touch is key to enabling the best AR experiences. We are delighted to support Raysolve’ experienced team, this partnership will leverage the full potential of AAC’s unparalleled expertise in wafer-level optics mass manufacturing and Raysolve’s proprietary Micro-LED technology to support global customers with a disruptive micro-display solution to meet rapid growth of the AR/XR market.”

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