Chinese OLED microdisplay producer BCDtek has raised about 600 million yuan ($83.5 million) in a pre-Series A funding round to further explore commercial opportunities of its products in artificial intelligence (AI) and augmented reality (AR) applications.
Domestic equity investment firms CDF Capital and Anshu Capital jointly led the deal, with participation from QCapital, Zhenjiang State-Owned Assets Investment Operation Company and others, BCDtek announced on Tuesday.
“BCDtek received huge support from China’s top investment institutions and industry funds through the new funding round. They provided us with not only substantial capital backing but also valuable strategic industry resources,” said Jin Fangming, co-founder of BCDtek, in a statement.
Jin said that the company aims to secure its Series A round of at least 1 billion yuan ($139.2 million) in the coming months.
Alongside the pre-Series A round, BCDtek said it also secured comprehensive credit lines of “hundreds of millions of Chinese yuan” from multiple commercial banks, such as Shanghai Pudong Development Bank and Bank of Hangzhou.
Shenzhen-headquartered BCDtek offers global clients its silicon OLED microdisplays, a type of microdisplays that integrates OLEDs directly onto a silicon wafer, enabling high-resolution, high-contrast displays that are also thin, transparent, and power-efficient. These features make them ideal for applications like AR and virtual reality (VR) headsets, smart glasses, and electronic viewfinders.
Founded in September 2020, the Chinese company has set up its production facilities in Huainan, a city in eastern China’s Anhui Province. After a total investment of 100 million yuan ($14 million), its first and existing production line that focuses on AMOLED flexible displays—broadly used for foldable smartphones and wearable devices—was put into operations in April 2024 with an annual output value of up to 200 million yuan ($28 million).
BCDtek is building a new production line in Huainan to manufacture 12-inch silicon OLED microdisplays, with an estimated investment of 1.5 billion yuan ($208.8 million) in phase I of the project, according to the company website.
The new production line is expected to be put into operations around the third quarter of this year. At full capacity, the line could generate an annual output value of 3.5 billion yuan ($487.1 million).
BCDtek currently employs more than 130 people, over 70% of which are R&D professionals, its website shows.
