3D Sensor Chip Firm Adaps Photonics Secures Financing Led by Meituan’s Long-Z Investments

3D sensor computer chip firm Adaps Photonics announced on Monday that it has completed C-round financing worth several hundred million yuan, with Meituan’s Long-Z Investments as the lead investor. Previous backers Kinzon Capital and Gaorong Capital also participated, while Lighthouse Capital served as the exclusive financial adviser. After this financing is complete, the company will seek to accelerate the mass production of its products and will continue to invest in research and development across advanced fields.

Adaps Photonics is committed to providing self-developed high-performance dToF sensor chips for smartphones, lidars, robots and AR equipment with SPAD photon detection technology. Since its establishment in 2018, the company has received investment from Xiaomi, OPPO and OFilm.

dToF (direct time-of-flight) measures the time interval between reflected and emitted light pulses to calculate the distance between objects. The technology can be used in depth sensing of smartphones, automobiles, home appliances, industrial devices and other equipment.

It is predicted that the dToF market will continue to grow rapidly to one trillion U.S. dollars by 2026, of which the market scale of computer chips, modules and systems will exceed $20 billion.

Adaps Photonics focuses on dToF technology and masters the international leading SPAD device design capability. The single photon detection efficiency (PDE) based on wavelength of 905nm reaches 25%, far exceeding the industry average by 5%-18%. In addition, the company is the only one in China that can provide mature high-performance dToF chips and overall solutions based on back-illuminated 3D stacking technology.

Zang Kai, chairman and CEO of Adaps Photonics, said, “Digitalization in the future will strengthen the connection between the virtual world and the real world. 3D sensing technology is an important part of it. Ranging, positioning and modeling are improving people’s requirements for 3D sensing technology itself. As a cutting-edge technology of 3D sensing, dToF, especially dToF based on 3D stacking, will become the core of building the digital world.”

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In the future, Adaps Photonics aims to further develop products with superior performance, fully meeting the needs of smartphones, AR devices, and in-vehicle lidar.