BlueRun Ventures-backed AR startup Thin Red Line Technology Closes $50 Million Angel Round | BlueRun Ventures

Recently, AR startup Thin Red Line announced the completion of an approximately $50 million angel round, valuing the company at roughly $200 million post-money. The round was led by Meituan Longzhu, with participation from BlueRun Ventures, Lenovo Capital and Incubator Group, Matrix Partners China, DJI, ATM Capital, and notable tech figures including Wanqiang Li and Eddie Wu.

Terry Zhu, Managing Partner of BlueRun Ventures, commented: BlueRun Ventures has been deeply investing across the XR supply chain and next-generation internet applications. We have high expectations for the Thin Red Line team to define an "Always on" new human-computer interaction experience, and to elevate users' ability to express themselves and solve problems in the future 3D interactive world through a general-purpose AR product.

Thin Red Line was founded in June 2022 as Yonghao Luo's new venture, aimed at building the next-generation personal computing platform after the smartphone. According to its official website, the company offers "a direct opportunity to participate in a platform-level revolution."

BlueRun Ventures believes that the next-generation internet represents a new foundational ecosystem, one that will drive the development of related industries in China and, in turn, advance the country's technological capabilities. Through its investments, BlueRun hopes to help give rise to hardware, infrastructure, and ecosystems that represent China, enabling Chinese supply chains and technology to achieve global leadership.

With the accelerated development of optical technology and significant improvements in rendering compute power, virtual reality (VR) and augmented reality (AR) are delivering experiences increasingly closer to those of the physical world. This means a new interactive experience is being created, where human needs at different levels can be better met through new modes of interaction, and new economic models will rapidly take shape.

BlueRun Ventures has already made systematic investments and ecosystem deployments in this area, including NOLO, LLVision, tatame, and other projects. Globally, the next-generation internet sector will see tremendous opportunities. BlueRun Ventures will actively help its portfolio companies better position themselves and break into the next-generation internet, supporting founders as they grow.

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BlueRun Ventures was founded in 1998 in Silicon Valley. BlueRun Ventures China was established in 2005 and is a venture capital firm focused on early-stage startups.

Currently, BlueRun Ventures China manages multiple USD and RMB dual-currency funds, with assets under management exceeding RMB 15 billion, making it one of the largest early-stage funds in the country. Its investment stage focuses on Pre-A and Series A rounds, covering hard tech and innovative interaction, enterprise technology, new consumer, and healthcare sectors. It has cumulatively invested in over 150 startups, including Li Auto, Waterdrop, QingCloud, Guazi.com, Qudian, Songguo Mobility, Ganji.com, Energy Monster, Yuntu Semiconductor, Machenike, Yunheng Intelligence, Anxin Wangdun, and BioMap.

BlueRun Ventures has been ranked first in Zero2IPO's "Top 30 Early-Stage Investment Institutions in China" and ChinaVenture's "Top 30 Best Early-Stage VC Firms in China," and was named among Preqin's Top 10 VC fund managers globally for sustained high-return performance.

Additionally, BlueRun Ventures has received consecutive recognition from Forbes China, 36Kr, Cyzone, Caixin Media, CBNweekly, Jiemian, and other media outlets as "China's Best Early-Stage Firm of the Year," "China's Top Venture Capital Firm," "Most Founder-Friendly Early-Stage Firm of the Year," and "Most Influential Early-Stage Firm of the Year."