Luo Yonghao announced his AR startup Thin Red Line in July this year. According to 36 Krypton, we learned from a number of independent sources that the company has recently completed an angel round of nearly 400 million yuan. Financing, and plans to continue to open a new round of financing at the end of October.
The angel round financing of Thin Red Line was led by Meituan Longzhu, followed by nine institutions including Matrix Partners and Lanchi Ventures. Zhu Yonghua, the founding partner of Meituan Longzhu, served as a director on behalf of Meituan. The report also said that according to people familiar with the matter, the earliest valuation of Thin Red Line was 2 billion yuan, but the current valuation range of the company is 1 billion to 1.5 billion yuan.
In addition, from the beginning of its establishment in June, Thin Red Line has started a recruitment plan, which was mainly aimed at AR engineers and product managers. According to reports, the company has recently recruited a large number of product managers and programmers, some of which are from Xiaomi and Black Shark.
Luo Yonghao had previously stated that he believed that AR was the next-generation computing platform, and he was not optimistic about Apple's AR glasses, because, during the platform revolution, the overlord of the new world will never be the overlord of the old world. Regarding the specific planning, Luo Yonghao said that his hardware team will develop an engineering machine every year, which in principle is limited to internal development and use, and will not be sold until the commercialization conditions and the overall environment are generally mature.
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