Recently, Raypai Photonic Crystal, a leading AR optical waveguide module company, completed A+ financing round of multi-ten million yuan. This round of investment was led by GF QIANHE Ventures and followed by Country Garden and Stepvc.

Li Wei, Chairman and CEO of Raypai Photonic Crystal, revealed that with the development of the industry and the increase of market demand, Raypai's A+ round of financing will be used for team expansion, production line expansion and new product development iteration.

As early as December 2020, V Fund discovered Raypai Photonic Crystal and became the lead shareholder of it, actively connecting it with relevant industrial resources and customer partners, providing support and assistance in various aspects such as actual operation and production and the company's overall strategic planning, deeply empowering and helping Raypai to develop comprehensively.

Raypai Photonic Crystal

Shanghai Raypai Photonic Crystal Ltd. is a leading supplier of geometric optical waveguide modules in the industry. Since its establishment, it has been focusing on the development of optical waveguide display technology for AR glasses. It is the only company in China and the only two in the world that has a complete layout of intellectual property rights for geometric light waveguide modules.

As the technology related to the metaverse continues to mature, AR glasses, as one of the most convenient ports to connect the virtual world with the physical world, are expected to become the next generation of intelligent consumer terminals that can achieve billion-level shipments. Compared to smartphones, consumer-grade AR glasses, as a new generation of smart terminals, have advantages in multiple experiences such as interaction methods, information volume and display effects. While realizing the liberation of hands, they can be based on multiple AI applications to strengthen the matching of virtual and display information, while providing good immersion and visual effects.

Optical display solution, as the core technology bottleneck that restricts the outbreak of AR glasses, accounts for the extremely high cost of the whole bom. Among them, optical waveguide technology, with its excellent optical performance, has become the ultimate solution in AR glasses and has received wide attention from the industry and capital in recent years.

Since the completion of the pilot line for optical waveguide modules in 2020, Raypai has achieved a full-line breakthrough from technology, process to production, with a stable mass production yield of over 80% and cumulative shipments of multi-ten thousands of sets. In order to meet the demand of downstream orders, the company continues to make breakthroughs in production capacity and product innovation in 2021. At present, Raypai has built a new plant in Kunshan, Jiangsu Province, which will be officially put into production in Q1 next year. In addition, after dozens of R&D iterations, the company's cross-genre 2D pupil dilation module will also make its debut at the Optical Fair in September 2021. Compared to the original 1D dilated pupil module, the 2D module has been greatly improved in terms of eye movement range, goggle distance and field of view. With a 50° field of view and 20mm goggle distance, its eye movement range can reach 15mm*10mm, keeping the overall display effect at the industry leading level.