Chinese AI Firm Zhiyi Tech Raises Nearly $100M
Zhiyi Tech, an AI technology enterprise in the clothing industry, has continuously completed three rounds of financing totaling nearly $100 million, led by GL Ventures, Zoo Capital, Xianghe Capital and CE Innovation Capital, respectively. Its existing shareholders Legend Capital and Yonghua Capital followed up with additional investment.
The new funds are planned to be used for team building and products, and to continuously provide targeted supply chain solutions for clothing brands and livestreaming hosts.
Founded in 2018, Zhiyi Tech is a clothing-oriented flexible supply chain solutions provider featuring AI technology. Combined with the ability of digitalized trend forecasting, design selection and supply chain organization, the enterprise carries out standardized output AI-driven SaaS-based digital tools and one-stop clothing design supply chain services for clothing brands and e-commerce livestreaming hosts.
The team of Zhiyi Tech 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, which can intelligently analyze dozens of dimensions and nearly 1,000 labels. It can help clothing enterprises grasp shifting trends within the clothing industry, and provide forecasting of clothing styles.
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Zhiyi Tech has built the largest structured clothing database in the industry, and has accumulated a large number of clothing data assets.
The firm’s database has accumulated more than 1 billion clothing pictures, with over 100 billion structured design materials. More than 100,000 complete models of sample clothing structure have been developed.