3D fashion company LincTex raises $100 million

LincTex Digital, a Chinese company that makes virtual try-on technology for fashion retailers, has raised $100 million in a new round of funding.

As Reuters reported on Thursday (June 23), the funds will help the Hangzhou-based company expand internationally and move further into the world of digital fashion.

Founded in 2015, LincTex’s flagship product is Style3D, a software and hardware developer for the fashion industry. Originally launched as a virtual try-on and 3D body scanning tool, Style3D has since expanded to provide services for apparel designers and manufacturers, allowing them to leverage big data to create fashion collections.

The company has also begun venturing into the Metaverse with a digitally simulated fabric designed to mimic the look and movement of real clothing.

Read more: Amazon Adds Virtual Try-on Shoes

In recent months, a number of companies have introduced virtual fitting technology. Earlier this month, Amazon launched Virtual Try-On for Shoes, an interactive mobile experience that lets customers see how a pair of shoes will look on them.

The tool will “better inform purchasing decisions,” Amazon said in a blog post, noting that US and Canadian users can use it “from the comfort of their own home or on the go” through the Amazon Shopping app on iOS.

Virtual Try-On for Shoes offers thousands of sneaker styles from New Balance, adidas, Reebok, Puma, Superga, Lacoste, Asics, Saucony and other footwear brands. After customers have chosen a shoe, they can tap the Virtual Try On button below the product image and point their mobile device camera at their feet to see how the shoes would look on them.

Read more: Sally Hansen, Perfect Corp Introduces Virtual Try-On Tool

And in February, using Perfect Corp.’s AgileHand technology, beauty brand Sally Hansen introduced introduces a virtual try-on tool that allows shoppers to experience hundreds of Sally Hansen nail color options in augmented reality.

In 2021, Coty, the parent company of Sally Hansen, entered into an agreement with Perfect Corp., a provider of artificial intelligence (AI) and augmented reality (AR) beauty and fashion technology solutions.