Zhiyi Tech Completed 3 Rounds of Nearly $100 Million Financing, Legend Capital Re-upped

Zhiyi Technology, an AI-driven company committed to building a standardized quick-response fashion supply chain platform, has completed 3 rounds of nearly $100 million financing; Legend Capital kept on supporting Zhiyi Tech's development by following up its financing rounds. As one of the earliest investors to Zhiyi Tech, Legend Capital joined its Series A financing round and continued to follow up in its subsequent financing rounds. The fresh capital will be utilized in team-building and products R&D to constantly provide targeted supply chain solutions for clothing brands and anchors.

Founded in 2018，Zhiyi Tech’s core technologies include fashion image recognition, data mining, and personalized recommendation, Zhiyi Tech has developed a series of SaaS products (Zhiyi, Zhikuan, Meinian,etc.) for designers and operations in the fashion industry. The core functions include fashion trends forecasting, intelligent style recommendation and sales data supported merchandise planning. Zhiyi Tech also expands to the fashion supply chain service through the SaaS portal, providing one-stop design and quick-response supply chain services.

With the emergence of a series of new channels, new models, and new species such as e-commerce, fast fashion, and light luxury brands, the competition pattern of the apparel industry has been continuously refreshed. Traditional supply chain models have been significantly weakened, especially for the design-end heavily relying on manual experience. It led to poor accuracy in the selection and separated the design and the supply chain because of the lacking of data, which caused brand owners a dilemma in fast reaction to production. Zhiyi Tech has developed a clothing search system based on deep learning algorithms. The system includes AI recognition algorithms such as clothing detection, clothing feature extraction, and clothing retrieval. At present, the image recognition accuracy has reached as high as 95%, the style acceptance rate has increased from 30% under the traditional mode to 70%, and the best-selling products rate has been doubled.

Zhiyi Tech has achieved annual revenue growth of 300% for three consecutive years since its establishment, and the ratio of monthly active users of SaaS products has exceeded 95%. The integration model between its quick-response fashion supply chain platform and SaaS products has also been gradually verified. In the future, we believe Zhiyi Tech will continue to base itself on innovative technologies and data, use technology to empower design, and promote the digital transformation of the apparel industry chain.