Venture Capital
BEIJING -- A Shenzhen technology company has raised millions to develop a social media app that allows participants to interact as avatars that they have designed themselves and that can reflect their expressions and their mannerisms. Shenzhen XiuDan Technology, operator of the XiuDan app, has raised millions in a pre-series A funding round that was led by Qiming Venture Partners, an investor with holdings in technology bellwethers such as smartphone maker Xiaomi and online food delivery platform Meituan Dianping. Participants in the XiuDan app create virtual characters that represent them. Using advanced augmented reality technology, players can customize avatars in detail.