Baibu
百布
Baibu is a Chinese textile B2B platform founded in April 2014 by Zhao Zhenhong, who serves as its founder and CEO . The company operates under Zhijing Technology alongside sister platforms Quanbu and Feisuo Zhifang, positioning itself as a digital supply chain service provider for China's textile and garment industry .
The platform connects upstream grey-fabric mills and first-tier wholesalers with downstream small and medium-sized garment manufacturers, offering what it describes as a "vertical-horizontal" strategy: vertical integration through AIoT and SaaS services for intelligent production management, and horizontal infrastructure through warehousing, logistics, and supply chain finance . By late 2019, Baibu claimed systematic coverage of 10% of weaving machine capacity upstream and 70% of supplier product categories downstream .
Baibu has raised multiple rounds from a roster of international and domestic investors. Source Code Capital was its sole investor in the angel and pre-A rounds and continued to increase its stake through subsequent rounds . Other backers include Tiger Global, DST Global, CICC Capital, Yunqi Capital, and in later stages, GLP's Hidden Hill Capital, which led a $110 million Series D+ round in January 2021 . GGV Capital also appears among its investors per a 2023 reference . The 2019 Series D round of $300 million was described as the largest single financing in China's textile fabric sector at the time .
Following the D+ round, Baibu announced expanded strategic cooperation with GLP and Hong Kong's Li & Fung Group in areas including digital supply chain, smart garment manufacturing, and supply chain finance .
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Coverage
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