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LinkMore, a clothing supply chain SaaS (Software as a Service) provider, on Tuesday completed an A+ round of strategic financing worth $30 million, led by B Capital Group and followed by Borchid Capital, while existing shareholders Yunqi Partners and GGV continued to increase their investment.
The firm’s last round of financing was in August 2021. Compared with last year, LinkMore’s core technical team has now expanded to 180, and its number of clients has increased to 400.
This round of funds will be mainly used to further enhance core technologies and rapid delivery capabilities. LinkMore will connect the supply chain with its products, providing support for clothing brands. The firms aims to help clients enhance business value through resource integration and smart data management.
Li Yingli, the founder and CEO of LinkMore, said: “Now we serve many online brands, while the flexible supply chain demands of offline brands keeps increasing. The rapid development of cross-border e-commerce brings challenges to China’s supply chain. They are, however, bringing opportunities, too.”
With the rapid rise of cross-border e-commerce startups such as SHEIN, China, as the largest delivery center in global supply chains, is faced with greater opportunities and challenges. The vision of LinkMore is to build the business information infrastructure of garment enterprises, so that the enterprises can cooperate efficiently through digital supply chains. It is also easier for enterprises to provide supply chain delivery services and online business support.
Based on customer orders, LinkMore provides more efficient resource matching for customers with the help of its database. It aims to improve the overall efficiency of the industry, which is also its core strategy in the next few years. LinkMore is gradually building its industrial ecosystem and delivery network, and is building a flexible supply chain infrastructure for the garment industry.
Up to now, LinkMore has served nearly 400 enterprises in the fields of shoes, clothing and luggage, with a renewal rate of nearly 100%. It has cooperated with over 100,000 foundries and material suppliers.