INNOVISION (Suzhou) Co., Ltd. was established in November 2021 and is headquartered in Suzhou, Jiangsu Province with a registered capital of 2.7778 million yuan. Its INNOVISION (Zhejiang) Co., Ltd. was established in Deqing County, Huzhou, Zhejiang Province on October 30, 2023, with a registered capital of 100 million yuan and 100% owned by INNOVISION (Suzhou).​
The company focuses on the commercialization of Micro-LED display chip technology and masters the independently developed VSP (Vertically Stacked Pixels) technology. This technology integrates integrated circuit manufacturing processes and LEDs, and vertically stacks light-emitting units through large size epitaxy, homogeneous integration, lossless substrate removal, etc., achieving improvement in light-emitting efficiency and yield, reduction in pixel volume and BOM cost, providing a feasible solution for mass production and commercialization of Micro-LED microdisplay chips.​
INNOVISION products cover AR/MR wearable devices, micro projection, HUD, digital lights and other scenarios, and its business covers the design, research and development, manufacturing, and sales of Micro LED chips and devices. In April 2024, the world's first XGA vertically stacked full-color Micro LED micro-display chip was lit up. In August, it launched a mass-produced single-chip full-color XGA Micro LED micro-display chip with peak brightness exceeding 500,000 nits. It also cooperated with industry-university-research institutions to prepare high-brightness, high-resolution Micro LED full-color micro display chips and high-brightness green Micro LED micro-display modules.​
The founding team has rich experience in the field of micro-led. With VSP technology, the company breaks through the miniaturization limitations of micro-display pixels, improves chip performance, and has mass production and commercialization potential. In September 2023, the VSP process was opened to realize wafer-level integration of the material system and lighting up of three-color stacked engineering chips. Previously, the world's smallest 0.12-inch monochrome RGB micro-display chip was also lit up.​
Although Micro-LED has significant advantages, the industry faces pain points such as complex processes, efficiency, yield and cost. INNOVISION is expected to use its technological advantages to promote its commercialization. In terms of financing, the company completed three rounds of financing in two years. In March 2024, the Pre-A2 round received 100 million yuan in financing. Lihe Capital led the investment. Old shareholders continued to increase their funds, and the funds were used for mass production line construction and chip research and development.