Shanshu Grabs CNY 100 Mn from Vertex to Disrupt Garment Supply Chains with AI
...as digitization is picking up steam in the Chinese textile industry.
Shanshu Technology (Chinese: 衫数科技), a clothing supply chain service platform, has recently accomplished its Series A, which was led by Vertex Ventures, raising more than CNY 100 million. After this round of funding, Shanshu will devote more to big data mining and market expansion.
Shanshu Technology, formerly known as Yilian Technology (Chinese: 依链科技), was founded in 2015. The company focuses on exploration and operations in clothing supply chain services. Starting from EPR, Shanshu provides online transactions, sharing inventory, and delivery services to micro-retailers and suppliers. Its business covers software, e-commerce enterprise resource planning (ERP) and big data.
Qinghua Xiang, the founder of Shanshu, is an ex-management consultant and a specialist in supply chain management. He used to provide consulting services to Huawei and P&G (PG:NYSE) in his previous career phase. Moreover, the company claims to have talents from tech giants like Microsoft (MSFT:NASDAQ), Google (GOOG:NASDAQ) and Kingdee (00268:HK). Those employees possess experience in the fields of big data, automation and AI algorithms.
"China has a huge clothing market both online and offline. However, the industry chain has a very low digitization penetration rate," said Wei Li, a partner of Vertex Ventures. "We believe Shanshu Technology can help clients with product selection, procurement and logistics, lowering down labor cost and enhancing efficiency."