Linctex Digital Technology, headquartered in China’s Zhejiang province, has secured a funding of US $ 500 million.
The Pre B+ round funding includes commitments from existing investors Hillhouse Ventures and CDH Investments.
The company offers a software Style3D that allows fashion designers to create virtual clothing, digitise physical fabric, build a resource library for garment designing and allows for remote collaboration of designers and manufacturers.
In an interview given to Chinese media, the company’s founder and CEO Liu Chensaid that the firm’s revenue has grown by 200 per cent in 2021.
Linctex has said to use the funding to enter the gaming, animation, video and metaverse industries this year.
The popular Chinese social media platform Xiaohongshu (China’s equivalent of Instagram) used Linctex’s software in April ’22 to launch the platform’s first batch of digital garment NFTs.
