LineZone Data, a startup that uses data and algorithms to inform corporate decision-making processes, secured eight figures in yuan in a Series A+ round from investors including Hillhouse Capital, CMC Venture Capital, and Fortune Venture Capital. The company will use the fresh funds to expand LineZone Data’s core business in the textiles and fashion industries.
By developing and offering technology-driven tools for the fashion sector, LineZone Data wants to help companies in this space make informed business decisions. Currently, much of the industry suffers from low operational efficiency due to poor inventory management, which is often conducted manually.
LineZone’s decision engines can process troves of sales data to optimize supply chains. China’s supply chains are some of the longest and most complex in the world, said chairman Chen Can, and they often lack the responsiveness required to meet customers’ rapidly changing demands. LineZone uses big data and AI to analyze transaction data, making it possible for clients to predict demand and align inventories accordingly.
The company currently targets mid-sized and large retailers in the textiles and fashion business because they have volumes of sales data that can be fed into LineZone’s digital solutions. The company’s services can shorten the inventory cycle for certain products, increasing flexibility and responsiveness to customer demands.
“LineZone Data is currently at an inflection point in development. Thanks to our work with more than 100 top customers in the past few years, our team has accumulated several advantages in the fashion industry. The core intelligent decision-making algorithm engine has gradually matured, and has been refined in real-life application scenarios,” said CEO Wang Yijun.
Going forward, the company wants to apply and scale its solutions in other industries, with a 90% standardization rate for its analysis software. This will “open the possibility of exploring wider markets to foster the company’s healthy development,” said Xu Chen, partner at CMC Venture Capital.
Read this: Roadmap to Fast Fashion | Alibaba’s Wu Xuegang introduces Rhino Smart Manufacturing
KrASIA Connection features translated and adapted content published by 36Kr. This article was originally written by Yong Yi for 36Kr.