Tech firm LincTex Digital raises $100 million
LincTex Digital, best known for creating its virtual try-on technology for fashion e-commerce, raised $100 million in a funding round headed by Hillhouse Capital and CDH Investments. It said on Tuesday that the funds would go to worldwide growth and a deeper transition into digital fashion.
The Hangzhou-based company was established in 2015 and is most well-known as Style3D. It is a software and hardware developer for the fashion industry.
More international fashion companies are offering digital products as part of their assortments; such as the $17.99 digital sneakers from Gucci; which were in high demand.
In the statement, Liu Chen, the founder, and CEO of Style3D, said that the company wants to combine the design, manufacture, and online sales of actual clothing with digital clothing products. Over the past year, it has also been growing internationally, opening offices in Copenhagen, Amsterdam, New York, and Milan.
A New Tool for Designing
To enable fashion designers and manufacturers to leverage big data to design and produce fashion collections, Style3D first developed virtual try-on technology and 3D body scanning. The company has expanded its portfolio to include digital services for these industries.
In recent times, it has also turned to the metaverse for digital technology and fashion design. Its digital fabric moves and appears like actual garments.
Voltron was formed today by Meta, Sony, Microsoft, Qualcomm, and Nvidia. Just kidding, the IT titans have formed the Metaverse Standards Forum. Not only will you recognize the names of well-known tech companies on the list of members, but you will also recognize names like Ikea and Alibaba, which control enormous retail shops.
The collaboration of IT titans to construct Metaverse Voltron should benefit everyone. When you delve deeper and look at how much of what goes into Apple’s gadgets are manufactured by or licensed from competitors, the lone wolf, ronin bullshit becomes tiresome. Collaboration is what makes a dream come true.
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