Casiris Technology, a Chinese start-up that develops pure laser projection display devices, has secured RMB135 million (US$19.06 million) in a series D+ round of financing led by State Development & Investment Corporation (SDIC), the largest state-owned investment company in China.
Chinese new material-focused investment firm Rich Land Capital, and Cash Capital, a Beijing-based investment company that specializes in the TMT and life sciences sectors, poured money into the new round. China’s Zheshang Venture Capital, and CAS Star, an investment platform backed by the national academy, the Chinese Academy of Sciences (CAS), also participated in the investment, said the lead investor in a statement on Wednesday.
Casiris Technology, founded in May 2015, specializes in the research and development of technologies like RGB LD laser modules with miniaturized high performance, high efficient control driver, high precision time sequence modulation, high efficient thermal management, color adjustment, uniform illumination and speckle elimination. The company has developed full-high-definition laser-displayed TVs, high-performance laser digital cinemas, special monitors and other kinds of new-generation laser display products.
Casiris Technology is headquartered in eastern China’s Hangzhou city, which also houses some of the country’s most renowned technology firms like Alibaba. The company has nearly 200 employees, over 30% of which are specialized in research and development. Casiris Technology has applied for 36 patents around the key technologies and 24 of them have been authorized, according to the statement.
The investment came only three months after the start-up raised a series D round from investors including Rich Land Capital, Cash Capital and CAS Star in June 2019. The company closed a series C round from Shenzhen-based private equity firm CStone Capital in April 2018.
Casiris Technology also raised a series B round in 2017 and an angel round in 2015. Financial details of the previous rounds were not disclosed.