JBD completed its Pre-B round financing with hundreds of millions of yuan raised, led by Ant Group, followed by Geely Capital, with existing investor GF Qianhe increasing their support. The funds will be utilized for core MicroLED technology R&D, mass production, talent acquisition, and global market expansion. JBD is currently the only enterprise capable of mass-producing MicroLED micro-displays, with a projected doubling of shipment volumes by 2024.
EqualOcean has learned that Shanghai Jade Bird Display Technology Co., Ltd. (JBD) has recently completed its Pre-B round of financing, raising several hundred million RMB. The Pre-B round was led by Ant Group, with participation from Geely Capital, and additional support from existing investor GF Qianhe. The funds will be used to increase investment in core MicroLED microdisplay technology research and development, mass production, recruitment of high-end talent, and global market expansion.
With the completion of this financing round, JBD has officially entered the ranks of unicorn companies.
JBD specializes in the development and production of MicroLED microdisplays smaller than 0.3 inches. The company has released 0.13-inch, 0.22-inch, and 0.31-inch microdisplay panels, as well as 0.3cc monochrome light engines and 0.4cc color light engines. These products are mainly used in AR glasses, automotive HUDs, microprojectors, 3D printing, sports optics instruments, and light field displays.
JBD employs approximately 550 people, with over 50% dedicated to R&D. The company's headquarters and R&D center are located in Pudong, Shanghai, and it has a large-scale production facility in Hefei. The Hefei factory has fully entered production mode, capable of delivering hundreds of thousands of microdisplays per month.
Since the release of Apple Vision Pro last year, the XR industry has entered a new period of growth. Besides large head-mounted displays, lightweight consumer AR devices have also seen explosive growth in shipments. According to IDC, AR device shipments reached 262,000 units in 2023, a year-on-year increase of 154.4%. As of June 1, AR glasses sales during JD.com's 618 shopping festival grew by 60% year-on-year.
Currently, JBD is the only company on the market capable of mass-producing and delivering MicroLED microdisplays. Its customers include leading technology giants, top consumer electronics brands, and AR startups worldwide. According to EqualOcean's research, since JBD began mass production in 2021, its revenue growth rate has remained above 50%, with cumulative shipments exceeding one million microdisplays. It is expected that shipment volumes will double in 2024 compared to the previous year.
For consumer AR glasses, balancing size, weight, brightness, and power consumption remains a challenge. Products must integrate smaller sizes, lighter bodies, and longer battery life, posing higher demands on their optical and structural designs.