Shangyue Technology

Shangyue Technology (商越) is a procurement software company founded by CEO Miao Feng (苗峰) , with Qiming Venture Partners and FreeS Fund among its investors — FreeS backed its Series A, and it raised a 320 million RMB Series B announced in late 2021 . Its business centers on digital procurement platforms for large enterprises: per Qiming's 2025 portfolio updates, it launched the R7 intelligent procurement platform embedding AI into procurement workflows, built a procurement digitalization platform for Feihe Group, and kicked off a procurement mall project with Trina Solar . In November 2025 it held its annual user conference in Hangzhou, where Miao gave a keynote titled "AI Reconstructing Procurement Value" — signaling how the company is now framing itself around AI-driven procurement .