Smart Fabric, a developer of internet-enabled solutions for the textile industry, has received $100 million in a fresh funding round.
The Series C funding round was led by Chinese internet giant Tencent Holdings and Sequoia Capital China, with participation from CBC Capital.
Additionally, existing backers including Matrix Partners China, 10Fund, Vision Plus Capital, and IDG Capital also joined in this latest fundraising.
With the new capital raised, Smart Fabric intends to develop new technologies, expand its market presence and recruit talent.