China-based 3D modelling software developer Style3D has received $31m in a pre-series B round led by electronics producer Lenovo’s corporate venture capital unit, Lenovo Capital, DealStreetAsia reported yesterday.
The round also featured investment firm Yinxinggu Capital and venture capital firms Shunwei Capital, Gaorong Capital and Vision Plus Capital.
Also known as Zhejiang Linctex Digital Technology, Style3D markets 3D modelling software and imaging technology for the clothing manufacturing and design sectors.
Gaorong Capital led a $14.3m series A-plus round for Style3D in late 2019 also backed by Baidu Ventures, a corporate venturing vehicle for internet group Baidu, Vision Plus Capital, Shunwei Capital and Yinxinggu Capital.
The company received an eight-figure renminbi amount (RMB10m = $1.4m at contemporary rates) of funding in a Vision Plus Capital-led series A round in 2018 that included Baidu Ventures and Yinxinggu Capital.
Style3D had raised tens of millions of renminbi (RMB10m = $1.5m) in a pre-series A round led by Shunwei Capital in the year before, following an undisclosed amount of seed capital from unnamed investors in 2016.