Xiaomi-backed Chinese display startup Viewtrix bags $46m in Sequoia-led series D round

Viewtrix (also known as Yunyinggu), a Chinese developer of display technologies, announced that it has secured 300 million yuan (US$45.6 million) in a series D round led by Sequoia Capital China.

Existing investors Qiming Venture Partners, Qualcomm, and Northern Light Venture Capital also participated in the round.

Founded in 2015, Viewtrix provides various types of displays for mobile phones, tablets, and notebooks including LCD, LED, and OLED.

The company said it has achieved mass production of its two main products this year – the AMOLED display driver IC and OLED microdisplay IC.

It expects to produce 10 million AMOLED display driver ICs by the end of this year, which accounts for more than 10% of the total Chinese market.

The Shenzhen-based company claims it is ranked third in terms of market share in mainland China, just behind Taiwan-based Novatek Microelectronics and Raydium Semiconductor.

With the new funds, the company will improve the research and development of its products, production, and market strategy. It will also further develop its AMOLED display driver IC and silicon-based microdisplay IC products.

The latest investment comes after the company completed over US$28.3 million in series C and C+ rounds of financing led by Qiming Venture Partners in April. Additional backers include Xiaomi, Vertex Ventures China, Hongtai Fund, and AVIC International Capital, among others.