Linctex Digital Technology, headquartered in China’s southeastern province of Zhejiang, Tuesday said the pre B+ round included commitments from existing investors Hillhouse Ventures and CDH Investments.
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- Linctex’s software allows designers to create virtual wear, digitize physical fabric, build a resource library for garment designing and allows for remote collaboration of designers and manufacturers.
- In an interview with Chinese media outlet 36Kr.com published on Tuesday, Liu Chen, the company’s founder and CEO, said the firm’s revenue was growing at 200% annually.
- Linctex will use the funding to enter the gaming, animation, video, and metaverse industries this year, a press release said.
- The popular Chinese social media platform Xiaohongshu (China’s equivalent of Instagram) used Linctex’s software in April to launch the platform’s first batch of digital garment NFTs.
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