Linctex, a Chinese startup that offers 3D technology to the fashion industry, has raised 100 million yuan ($14 million) in a Series A+ round of financing led by the country’s venture capital firm Gaorong Capital.
The round saw the participation of existing investors including Baidu Ventures and Shunwei Capital, said Baidu Ventures in a WeChat post on Wednesday.
Hangzhou-based Vision Plus Capital and new economy-focused Yinxinggu Capital also poured money into the deal. The transaction was completed by the end of 2019.
Shanghai-based Linctex, formally known as Shanghai Linctex Digital Technology Co Ltd, provides small and medium-sized clothing enterprises with 3D fashion design software, online collaborative work systems and supply chain services.
The company booked nearly 200 million yuan ($29 million) in operating income in 2019.
Previously, Linctex closed a Series A round from Baidu Ventures, Vision Plus Capital, and Yinxinggu Capital in December 2018. The firm also received tens of millions of yuan in a Series pre-A round led by Shunwei Capital in November 2017, shows the company website.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from February 12-14, 2020.
