Dongjing Yiwang Secures RMB 250M Series B+; Packaging Digitalization Enters Fast Lane

This month, Dongjing Yiwang, a leading packaging industry internet platform and digital solutions provider in China, announced the completion of a RMB 250 million Series B+ financing round. The deal ranks among the larger industrial internet financings in the first half of this year and is the biggest single financing to date in the packaging industry internet sector. In January this year, Dongjing Yiwang had just closed a nearly RMB 100 million Series B round. With valuation and financing scale rising quickly, the internetization of the packaging industry is entering the fast lane, leaders are building clear advantages, and digital transformation across packaging is set to accelerate. The round was led by Gaorong Capital, with Guangzhou Qianhe and several other capital institutions participating, while Yunqi Capital, the sole Series B investor, increased its commitment. Zhishi Capital acted as financial advisor. The proceeds will support technology R&D, business expansion, brand building and team development.

Dongjing Yiwang is the packaging industry internet platform under Zhejiang Dongjing Technology Co., Ltd. Founded in 1994, Dongjing Technology has built on 27 years of packaging enterprise operation and management experience and 22 years of packaging industry IT R&D experience, investing more than RMB 100 million in R&D. It developed a “packaging + internet” model and launched Dongjing Yiwang in 2016 as China's first digital and intelligent service platform for the packaging industry.

By bringing internet technology, industrial big data and intelligent manufacturing into traditional packaging, the platform provides full-process, digital and intelligent services across the packaging value chain. It connects online and offline, links supply and demand with supporting resources at each stage, removes cost and efficiency black holes in the traditional packaging chain, and helps small and medium-sized packaging companies lower costs, improve efficiency and add value.

In 2021, Dongjing Yiwang fully launched its empowerment strategy. After securing Series B financing early in the year, it moved beyond Zhejiang and rolled out a nationwide market plan, working with local partners to build multiple digital joint-operation factories. At the same time, targeting factory pain points and real application scenarios, the team summarized four years of industrial internetization experience and distilled a five-step digital method for cost reduction and efficiency improvement. This method delivers full-process digital empowerment across sales, production, logistics, procurement, management and other links for paper packaging enterprises.

The approach creates a “resonance” between network collaborative manufacturing and internal digital transformation. It helps suppliers raise production efficiency and cut production costs while building strong customer connections and increasing repurchase rates.

As of the end of May 2021, Dongjing Yiwang had served more than 30,000 paper packaging enterprises and related supporting companies upstream and downstream, with business covering all of Zhejiang Province and accelerating expansion into markets across China.

After several years of rapid growth, Dongjing Yiwang has become a pace-setter and disruptor in the packaging industry digitalization track. It has earned honors including National Top 100 Industrial Internet platform and provincial key industrial internet platform. In the future, guided by user needs at both ends and focused on industry pain points, it will accelerate more convenient, practical digital solutions, comprehensively drive digital transformation and upgrading of the paper packaging industry, and pursue win-win outcomes with suppliers and customers.

Hu Shuo, Senior Vice President of Gaorong Capital, said the packaging industry is a basic supporting industry for China's manufacturing sector and offers a huge opportunity for digital transformation and upgrading. The Dongjing Yiwang team has spent more than 20 years in the industry, consistently investing in technology and model innovation and digitally transforming production and circulation. Gaorong has seen that when the platform empowers upstream and downstream players, partners achieve significant cost reduction and efficiency gains, and the industry's cost-profit structure improves. Gaorong also looks forward to supporting and accompanying more outstanding entrepreneurs who truly create value for the industry.

Feng Yao, Executive Director of Yunqi Capital, believes China's packaging industry has a trillion-yuan market opportunity, and against the trend of high-quality economic development, the industry needs further intelligent transformation. Based on more than 20 years of industry accumulation and experience, Dongjing's cloud factory model has been replicated from Zhejiang to provinces across the country, earning industry-leading reputation and influence. Yunqi believes Dongjing can empower the industry to accelerate digital upgrading and is optimistic that it will become the most leading industrial internet platform in packaging.

Zhou Zhiyan, Investment Director of Guangzhou Qianhe, said Guangzhou Qianhe is very optimistic about Dongjing Yiwang's opportunities and prospects in the paper packaging industry. The founding team not only has more than ten years of industry experience but is also one of the few companies in the industry with long-term strategic thinking, comprehensively empowering industry partners through digitalization and management experience. It has established benchmark model factories, giving it notable scarcity. Guangzhou Qianhe believes China's industrial transformation needs more teams like this and looks forward to Dongjing Yiwang creating more value for China's paper packaging industry.

——This article is reproduced from China Packaging Network (pack.cn), original link: http://news.pack.cn/show-377702.html