Teyi Technology completed a Series B financing round worth hundreds of millions of CNY, led by CLP Zhongjin. The OLED equipment of Teyi Technology has included the domestic head panel factories, and the Mini LED equipment has been officially delivered to the leading companies in the industry.
Xiamen Teyi Technology (Chinese: 特仪科技), a professional supplier of testing instruments and industrial automation production equipment, announced a Series B funding round worth hundreds of millions of CNY on May 24, led by CLP Zhongjin, with participation by Zhe Shang Venture Capital and Xinjunyi Equity Investment.
This round of financing will mainly be used to invest in Mini light-emitting diode (LED), Micro LED, and R&D on the semiconductor.
Teyi claimed that in the future, they will continue to increase investment in the six core technology modules of optical testing, electrical testing, display adjustment, visual testing, automation, semiconductor testing, and new energy testing, and continue to maintain their dominant position in the panel display field.
With their first-mover advantages in Mini LED, Micro organic light-emitting diode (OLED), and Micro LED, Teyi will increase their penetration rate in the field of semiconductor testing.
Driven by the strong demand for terminals such as TVs, monitors, wearable devices, and vehicle-mounted displays, my country's Mini/Micro LED industry is expected to usher in a period of rapid growth in the next few years.
The domestic market size of the back-light Mini LED industry was CNY 1.6 billion (USD 240 million) in 2019. It is expected that the market size of China's back-light Mini/Micro LED industry will increase to CNY 43.1 billion by 2025, according to Insight and Info.
In August 2021, the Mini LED equipment developed and manufactured by Teyi Technology was released for the first time, and the first set of Mini LED equipment was officially delivered to the leading firms in the industry, news portal 36Kr.com noted.