Textile B2B Platform Hundred Cloth Announces Strategic Mergers And Acquisitions And Weaving Networking

It is reported that the textile B2B platform today announced the signing of the strategic merger agreement with Suzhou information technology (Guangzhou) and the information technology of the Guangzhou flying boat (hereinafter referred to as "weaving network"). Huaxing capital has served as the two financial advisor for mergers and acquisitions.

It is reported that after completion of the merger, Bai cloth has completed the laying of AIoT equipment for over 300 thousand looms and links to more than 20% looms in China. In the future, hundred cloth will enhance the cloud factory and intelligent weaving service capacity, and complete the whole process of order, finance, production, warehousing, logistics and so on, so as to raise the digital level and transaction efficiency of the whole industry chain.

Data show that 100 cloth was founded in 2014, its own intelligent cloud factory and finished cloth trading platform two major business segments. Among them, the intelligent cloud factory is mainly connected with upstream grey cloth factories and merchants, and the finished cloth trading platform connects a number of businesses and small and medium-sized garment factories downstream.

According to the media, in December last year, Bai cloth completed 300 million US dollars D round of financing. This round of financing is led by DST Global, CICC capital and investment, source capital, tiger Global Fund, Yun Kai capital, capital investment and male bull capital.

At that time, the company said that after the completion of the financing, Bai cloth will continue to carry out the layout in AIoT product development and laying, grey cloth factory and supplier cooperation, warehousing and logistics system, customer service and so on, so as to promote the full chain digitalization and intellectualization of the textile industry.

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