INCE portfolio company Feiliu Tech has become the only apparel tech company listed by Fortune as impact start-ups in China.
The 2022 list compiled by the global business magazine showcases companies with a commitment to doing well while doing good in education, self-driving, agriculture, health, AI, e-commerce, and other areas. The start-ups represent the spirit of the times and devote themselves to making a better world with wisdom, persistence, and courage.
Fortune said they should first have been proven to be commercially successful. Additionally, their businesses and developments should already entail elements of social responsibility, or their business behaviors are fulfilling certain social responsibility. Profits and growth of profits demonstrate their success in changing the world and a continuation of the success.
As such a company, Feiliu Tech has been included in the list for its use of AI technologies to innovate the clothing and fashion sector as well as its outstanding contribution to digital intelligence of the sector, supply chain transformation, and sustainable fashion.
Feiliu Tech envisages making clothes globally and making it easier. The company has rolled out a collaboration system SewSmart, using AI technologies to tackle thorny problems in production management for small and medium-sized clothes makers. The digital intelligence solution for garment manufacture has enabled factories to produce clothes 20% faster and hence to meet small orders quickly. The smart system is not only cost-effective due to swift product deployment and low cost, but so user-friendly that even newcomers and the aged are able to be skilled. This benefits every enterprise in need as well as workers in the front line of every factory.
INCE Capital invested in Feiliu Tech in Series A2 round. As noted by Stella Zhou, Founding Partner of INCE Capital, “Many innovative models and sales channels have sprung up in the supply chain of the apparel industry over the last decade and more, such as the flourishing e-commerce platforms which build direct connections with customers, KOLs who play a powerful role in marketing, brands which link online and offline, and independent brands which take off abroad. However, we had not seen underlying innovations to the apparel supply chain. Feiliu Tech has filled the gap. Its comprehensive capability in developing a flexible apparel supply chain is enabling the rise of Chinese brands. Such innovations are what INCE Capital has been looking for to enable industrial internet, and we will pay constant attention to this field.”