China Digest: AR firm Thin Red Line snaps up $50m; Quantifeed buys ALPIMA

China Digest: AR firm Thin Red Line snaps up $50m; Quantifeed buys ALPIMA

Photo by Chapman Chow on Unsplash

Thin Red Line has raised fresh funding while Hong Kong-based Quantifeed has acquired fintech firm ALPIMA. 

AR firm Thin Red Line snaps up $50m

Augmented Reality (AR) firm Thin Red Line has secured $50 million in an angel round led by DragonBall Capital, the investment arm of Chinese consumer products and retail services giant Meituan.

With this round, the firm’s total valuation has reached $200 million, the company announced on Wednesday. 

BlueRun Ventures China, Lenovo Capital and Incubator Group, Matrix Partners China, ATM Capital as well as Chinese drone maker DJI, participated in the round, along with several individual investors. 

Founded in June this year by serial entrepreneur and internet celebrity Luo Yonghao, the firm aims to tap into AR software and hardware products. 

Hong Kong’s Quantifeed acquires fintech firm ALPIMA

Quantifeed, a Hong Kong-based digital wealth management solutions provider for financial institutions, has acquired London-based fintech firm ALPIMA, the firm announced on Tuesday. 

ALPIMA, which provides a low-code portfolio construction platform, will join Quantifeed to grow its business across EMEA, Asia, as well as North and South America.

As part of the transaction, Fidelity International Strategic Ventures (FISV) will join Quantifeed as a shareholder, per the release. 

In May, Quantifeed announced that the firm has raised a Series C funding round led by HSBC Asset Management’s alternative investments business, HSBC Alternatives.

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