good news
It is committed to solving the problems of data-based fashion trend prediction, fast fashion clothing design and production deliveryZhiyi Technology recently completed a 200 million yuan Series B financing。 This round of financing was invested by Hillhouse Venture Capital and Wanwu Skill, followed by Yonghua Investment and the old shareholder Legend Capital.Sichuan Bank Capital acted as financial advisor. Zhiyi Technology was founded in 2018 and previously received a series A financing from Kuaishou Strategic Investment and Legend Capital.
Regarding the B round of financing, Zheng Zeyu, CEO of Zhiyi Technology, said,It will be mainly used for team building and product research and development, and continue to provide targeted supply chain solutions for apparel brands and anchors.
In the increasingly competitive apparel market, product power has become the core competitiveness of the brand. With the rise of fast fashion, live e-commerce, new national fashion brands, and overseas apparel brands, the market and brands have increasing demand for style design and supply chain. Zheng Zeyu, the founder, pointed out that "Zhiyi can standardize the ability of data-based trend planning, design selection and supply chain organization on the basis of AI-driven, provide SaaS data planning and selection tools and one-stop clothing design supply chain services for clothing brands and e-commerce celebrities, and will serve and cultivate countless new fashion brands with tonality, many styles and fast updates in the future, and promote the transformation of the apparel industry with the changes in market demand."
Full-link closed-loop under massive data analysis:
Trend discovery - design selection - sample - order - market feedback closed loop
Through real-time data analysis of massive e-commerce websites, social media and big-name shows, Zhiyi SaaS products assist apparel brands in data-based product planning, data selection, intelligent design, designer collaboration and other scenarios, improve the efficiency of style research and development, and improve design quality.
After three years of algorithm and data accumulation, Zhiyi's database includes the design data and analysis of more than 1 billion style pictures, and is growing at a rate of more than 1 million styles per day. At the same time, Zhiyi has independently developed a recognition algorithm for clothing images, which can recognize dozens of different design dimensions and more than 1,000 design element labels, and the recognition accuracy exceeds the recognition level of professional designers. Through the accurate analysis of massive data, Zhiyi can effectively help brands grasp market trends more accurately and identify popular opportunities.
Based on data SaaS products, Zhiyi has further built a complete one-stop service platform for design supply chain, extending from industry-empowered products to an integrated design supply chain platform, which is also another important model of Zhiyi Technology. At present, Zhiyi's design supply chain platform has served more than 100 customers. The founder said that the company will gradually increase the proportion of design supply chain platform business in the future. Zhiyi can completely collect the full-link closed-loop data from trend discovery, designer style selection, sample making, brand sample selection to order production (above).
Up to now, Zhiyi's SaaS product "Zhiyi" data platform has cooperated with more than 1,000 brands, including Peacebird, Balabala, UR, Ayazhi Group, Heilan Home, etc., and has served more than 500,000 employees in the industry. Zhiyi has achieved 300% growth in annual revenue for three consecutive years, and the proportion of monthly active users of SaaS products exceeds 95%. At the same time, the flexible manufacturing supply chain business and its integration with design SaaS products have also been verified recently, and batch orders have been run, and the annual order value will reach hundreds of millions.
Zhiyi Technology is a typical comprehensive team in the technology industry. Among them, the founder and CEO Zheng Zeyu has a bachelor's degree from Peking University and a master's degree in artificial intelligence from Carnegie Mellon University (CMU). Before returning to China, Zheng Zeyu worked as a senior software engineer at Google in the United States, and wrote the first artificial intelligence TensorFlow book in China, "TensorFlow: A Practical Google Deep Learning Framework", which was the best-selling technical book of the Electronic Industry Publishing House in 2019.
CTO Miaomiao Wen is a Ph.D. in artificial intelligence from Carnegie Mellon University and a former data scientist at Coursera, where she was responsible for the development of algorithms related to personalized education. COO He Zhi used to work for Ruhan Holdings, a senior practitioner in the live broadcast industry. SVP Hu Yuting used to be the head of the celebrity business group and supply chain of Ruhan Holdings, and has managed the design supply chain system of nearly 10 billion yuan.
Huang Liming, partner of Hillhouse and head of software and hard technology of Hillhouse Venture Capital, said: Artificial intelligence has brought huge opportunities for industrial upgrading to the traditional clothing industry. With powerful algorithms and data accumulation, "Zhiyi" has broken through the gap between natural language and image semantics, and the data platform and design supply chain integration products it has created have effectively improved the overall efficiency of the clothing design industry, which was originally difficult to scale and efficiency, and has been widely recognized by the industry's leading customers. In our view, "Zhiyi" under the leadership of Zheng Zeyu is a scarce team with both top technical background and industry experience, and has a deep belief in driving industry upgrading with innovative products. We are very optimistic about the future of Zhiyi.
Gao Fapu, Vice President of Investment of Wanwu Capital, said: "Zhiyi Technology has accumulated a large amount of clothing data in the first three years, and has helped brand customers significantly improve the efficiency and popularity rate through AI prediction, and the accumulation of a large number of brand customers has driven the development of supply chain business, and the sales situation of the supply chain can help improve the accuracy of AI prediction." All things capital has long been optimistic about the value that the company brings to the apparel industry through the use of data closed-loop. ”
Hong Yixiu, partner of Yonghua Investment, said: "The apparel industry is undergoing large-scale innovation and transformation in recent years, and there is a significant demand for design empowerment and efficiency improvement, and there is a broad space for efficiency improvement; We highly recognize the technical accumulation and industry precipitation of the Zhiyi team in the clothing design and selection and supply chain links, and believe that the team's data- and algorithm-driven efficiency improvement tools, supplemented by one-stop solutions for the design supply chain, can truly bring in-depth upgrades and changes to the apparel industry.
Contact number: 400-111-2618
E-mail: info@zhiyitech.cn
Address: 1201, Block F, Hangzhou Bay Information Port, Xiaoshan District, Hangzhou
All brands are welcome to invite cooperation
