Supply Chain Startup Zilingo Makes US Push
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To roll out operations in the United States as it grows its supply chain business that links apparel brands with suppliers as well as factories, Singapore-based fashion technology firm Zilingo is designing a $100 million push. The startup is bringing offices to Los Angeles and New York and hiring product as well as sales teams as it drives an effort to get more U.S. manufacturers and brands on its platform, The Wall Street Journal reported.
The startup says it has 800 employees and plans to grow its U.S. team to over 100 from 17 in the next year. Its supply chain provides brands and suppliers access to technology like inventory management, invoicing and financing tools. And it offers compliance services, auditing and predictive analytics to help firms quickly reply to trends.
“We marry that with the capabilities in the factories that we have,” Zilingo Chief Executive and Co-Founder Ankiti Bose said, according to the outlet. If trend data shows that a “white ruffled sleeve is going to sell,” the executive said the company’s platform will let one know “if you want to get it to that celebrity or that brand within 21 days, it should be made in Line 3 in Bangladesh in Factory X.”
Zilingo is valued at roughly $970 million and has notched $308 million in funding. It seeks to speed the sourcing of apparel by digitizing manual processes that are entrenched and taking away some of the middlemen that can cut into the profit margins of firms. The garment trade has relied on supply chain managers and sourcing agents for a long time.
In February, Zilingo announced a $226 million funding round. At the time, it was said to be one of the biggest for a Southeast Asia eCommerce startup and a major show of support among investors for the company’s increasing attention on the B2B side of the market.
Reports at the time noted that Sequoia Capital, Sofina and Burda Principal Investments participated in the Series D funding round, while existing backers also joined. Temasek and EDBI, both Singapore-based state-linked funds, also invested in the round.
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