MicroLED/OLED equipment factory Flat completed tens of millions of yuan in Pre-A round of financing

According to "Crazy Capital" reports, Jiangsu Flat Automation Equipment Co., Ltd. (hereinafter referred to as "Flat") recently announced the completion of tens of millions of yuan in Pre-A round financing. Investors in this round of financing include Zijin Xinchuang, Jingkai Juzhi, Oriental Finance and other investment institutions. Crazy Capital serves as the exclusive financing consultant for this financing.

Flat is an intelligent manufacturing company whose business covers the R&D, production and sales of high-end wet processing, grinding, testing and related process equipment in LCD, AMOLED, Micro LED/OLED, semiconductor and other fields.

The company stated that the funds raised in this round will be mainly used to further promote its localized R&D and manufacturing in the field of wet cleaning equipment to support the company in achieving large-scale mass production delivery. After the financing is completed, the company plans to change its name to "Jiangsu Flat Semiconductor Equipment Co., Ltd." to better focus on and serve customers in the semiconductor field.

Company information shows that Flat was established in August 2011 and is located in Kunshan City, Jiangsu Province. It currently covers an area of ​​3,000 square meters. The company is positioned as a "one-stop" supplier of semiconductor wet-process equipment and services, and has established cooperative relationships with the School of Chemical Engineering of Nanjing University of Science and Technology and Jiangsu University, aiming to conquer cutting-edge and key technologies.

Image source: Paixin.com genuine gallery

In addition to Flat's financing progress in the equipment field, this year, many companies have also announced the receipt of financing in the field of micro-display technologies such as Micro LED and Micro OLED. Let's first look at the direction of Micro LED.

On April 3, Swedish Micro LED technology company Polar Light Technologies announced that the company had successfully completed a new round of fully subscribed financing, with the financing amount reaching approximately US$3.4 million (approximately RMB 24.4732 million).

Earlier, news disclosed on March 5 showed that Nostal Technology completed Series A financing. The amount of financing was not disclosed. Investors include CITIC Construction Capital and others. It is worth noting that Nostalgia Technology has completed multiple rounds of financing in recent years, including the Pre-A2 round of financing in March 2024, which amounted to 100 million yuan, which was used for the construction of Micro LED microdisplay chip mass production lines and VSP technology research and development.

In late February, Micro LED optical interconnect company Hyperlume completed a seed round of financing worth US$12.5 million (approximately 90.622 million yuan), with investors including Intel Capital.

Hunan Puzhao Information Materials Co., Ltd., a Micro LED-related company, also received good financing news in February. According to its official website, the company has completed 740 million yuan in Series B financing. This is Puzhao Materials’ second round of financing within one year after completing a 560 million yuan Series A financing in early 2024, with the total financing amount reaching 1.3 billion yuan.

In January, Canadian Micro LED technology developer VueReal announced on January 30 that the company had received US$40.5 million (approximately RMB 290 million) in Series C financing. This funding will strongly support VueReal's large-scale market promotion of its Micro LED and other micro semiconductor solutions.

In the field of Micro OLED, financing activities are also active. On February 5, Micro OLED manufacturer Metaways (Hongxi Technology) announced the successful completion of a Series A financing of nearly 500 million yuan. Metaways has been favored by the Anhui Provincial Smart Home Appliances Industry Fund and plans to settle in Chuzhou, Anhui and establish a wholly-owned subsidiary to promote the development of Micro OLED business.

It is worth mentioning that these financing activities not only provide financial support to relevant companies, but also bring them more market attention and cooperation opportunities. Recently, U.S. microdisplay manufacturer KOPIN announced that it has received a multi-year contract from a U.S. Department of Defense first-tier contractor with a total amount of US$7.5 million to supply microdisplays for pilot helmet display systems (Helmet Mounted Display Systems, HMDS), which will have AR capabilities.