MaHui Member Raysolve Raises Nearly 100 Million Yuan in Pre-A4 Round to Accelerate Near-Eye Display and Optical Interconnect Commercialization

Recently, MaHui member Raysolve announced the completion of a nearly 100 million RMB Pre-A4 funding round, led by CMB International with follow-on investments from Fengtu Capital and an undisclosed industry investor. Muyan Capital served as the exclusive financial advisor. Source Code Capital was the sole angel-round investor in the company.

The proceeds will be used primarily for technology and product iteration, application validation, and industry partnerships to further advance Raysolve's commercialization efforts in near-eye display and optical interconnects.

Over the past few years, the Micro-LED industry has undergone continuous technological breakthroughs, route validation, and application exploration. Now, with the rapid development of AI, smart terminals, and computing infrastructure, near-eye display and high-speed optical interconnects are forming new industrial demands, bringing Micro-LED into a new phase of value reassessment — its value no longer confined to being a "better display device," but increasingly manifesting as a miniature optoelectronic technology platform that combines semiconductor manufacturing attributes, high-density array capabilities, and efficient light output.

Amid this industrial shift, the value of technical routes is also being re-examined: what truly confers long-term competitiveness is not merely leading on individual metrics, but whether a company can build complete capabilities spanning core technology, wafer processes, product iteration, and application validation — and realize value at critical junctures when industrial demand crystallizes. Raysolve, which has long focused on core Micro-LED technologies, is advancing the commercialization of both near-eye display and optical interconnects based on this technical foundation.

In near-eye display, Raysolve continues to iterate on its monolithic full-color Micro-LED microdisplay products based on quantum-dot photoresist (QDPR) technology, having developed a product series and established collaborations with multiple leading European and American companies to jointly advance AR/MR prototype development and system-level validation. As end-user demand grows for high-brightness, compact, highly integrated display solutions, Micro-LED microdisplays are accelerating their transition from core components to system applications.

In optical interconnects, Raysolve began exploring relevant technologies as early as 2021, continuously advancing validation around key capabilities including high-speed modulation, high-density parallel channels, efficient light output, and low crosstalk. The company is currently engaged in deep exploratory collaborations with multiple leading optical interconnect and optical module manufacturers, pushing relevant solutions into functional validation, performance optimization, and end-user application validation stages. The sustained growth of AI computing power — and the resulting demand for high-speed, high-density, low-power connectivity — is opening new industrial space in this direction.

From technology accumulation to application validation to industry partnerships, Micro-LED is gradually entering a new phase of value realization. The completion of this Pre-A4 round represents further recognition from capital and industry players of Raysolve's long-term technical accumulation and commercialization path. Going forward, Raysolve will continue investing in technology and product iteration, deepen collaborative partnerships across the industrial chain, accelerate application validation and commercial adoption in both near-eye display and optical interconnects, and drive the further translation of core Micro-LED capabilities into product and commercial value.