The registered capital base of Adaps Photonics increased to approximately CNY 2.86 million after the cash injection by Meituan Dragonball.
Chengdu Meizhu, a company affiliated with Meituan DragonBall Capital, Meituan’s venture capital arm, has become a new shareholder of Shenzhen Adaps Photonics Technology (Chinese: 灵明光子) after it invested hundreds of millions of CNY in the Series C funding financing round of Adaps Photonics on April 11, TianYanCha.com shows.
Since its establishment, Adaps Photonics has completed at least one financing round each year. On December 12, 2018, the company closed its angel round of financing, with participation by Legend Star, Kinzon Capital, CITIC Private Equity Funds, and Legend Holdings.
On June 24, 2020, the company received tens of millions of CNY from its Series A funding round, led by Lightspeed China Partners, with participation by Ofilm. It also closed its Series A+ funding round on October 29 in the same year, led by Changjiang Xiaomi Fund.
On September 14, 2021, Adaps Photonics completed its hundreds of millions of CNY Series B financing round, led by Banyan Capital, with participation by OPPO, Zhen Fund, Kinzon Capital, and Ofilm.
Founded in May 2018, Shenzhen Adaps Photonics Technology Co.,Ltd, jointly founded by four doctorate holders who returned from abroad, is committed to using the world's leading single photon detector technology to develop and manufacture high-performance photoelectric 3D sensing (dToF) chips. These chips are applied in mobile phone 3D modules, lidar and other high-performance depth sensing systems, according to its official website.
Zang Kai, CEO of Adaps Photonics, said that the firm has invested in the research and development of 3D stacking technology for more than two years. It is one of the few companies in the world and the only company in China that can provide mature high-performance dToF chips and overall solutions based on back-illuminated 3D stacking technology, he added.
In the semiconductor field, besides leading the investment in lidar manufacturer Hesai Technology and wafer foundry Rongxin Semiconductor, Meituan DragonBall has also invested in AI Chip, a company focusing on the research and development of high-performance and low-power artificial intelligence vision processing chips, and DPU chip developer NebulaMatrix, tech news portal Lieyunwang.com reported.