Wandianzhang Secures RMB 15 Million Series A Funding Led by GSR Ventures, Files IPO Prospectus

VCBeat (WeChat ID: vcbeat), June 23—Zhou Shengqiang, founder of Suzhou Wandianzhang Network Technology Co., Ltd., a provider of mobile supervision devices and software, confirmed to VCBeat that Wandianzhang has completed an RMB 15 million Series A financing round, with GSR Ventures as the sole investor.

According to Zhou Shengqiang, the majority of this round of financing will be allocated to product research and development, with additional investments directed toward market operations and promotion.

How to Secure Investment from GSR Ventures: Zhou Shengqiang Explains the Details to VCBeatEarlier this year, Zhou Shengqiang, as an entrepreneur, participated in a startup-themed television program in Suzhou, where he delivered a project pitch. Zhu Xiaohu, a partner at GSR Ventures, happened to be a guest on the show. Renowned in the venture capital community for his speed and keen instinct, Zhu immediately expressed optimism about Wandianzhang’s business model and the growth potential of its industry after hearing the pitch.

Wan Dian Zhang’s latest round of financing was conducted at a valuation of RMB 100 million, with GSR Ventures making an exclusive investment of RMB 15 million. Zhou Shengqiang stated, “The company’s initial fundraising target ranged between RMB 10 million and RMB 20 million, so the RMB 15 million raised is sufficient. We are not a company that raises funds based solely on ideas. After several years of development, we have established a solid business foundation and market reputation in the retail chain industry. The purpose of this financing is to strengthen market coverage and product research and development.”

Wandianzhang was founded in 2012. Its founder, Zhou Shengqiang, previously worked at Suzhou Keda, a publicly listed company, and brings nearly 20 years of experience in intelligent image development and market applications. Other team members mostly come from large retail chain companies and the video intelligence technology industry. The company currently has around 60 employees, more than half of whom are technical staff, and its workforce is expanding rapidly.

Wandianzhang is a developer of mobile supervision and operation products and applications, offering integrated hardware-software-service solutions that include intelligent video analytics devices, mobile supervision software, and operational management services.

In terms of hardware, the solution includes 360° high-definition store inspection cameras, intelligent foot traffic analyzers, and smart supervision servers. On the software side, the mobile supervision application features modules for smart store inspections, business analytics, collaborative office work, and training and learning. Regarding services, once issues are identified at a store, they can be submitted to Wandianzhang; the Wandianzhang operations team then provides consulting services to optimize processes and deliver targeted solutions.

WanDianZhang primarily serves retail chain stores, including sectors such as pharmaceuticals, department stores and supermarkets, convenience stores, and footwear and apparel. Currently, chain pharmacies constitute its main customer base, accounting for approximately 60% of its total clientele.

According to Zhou Shengqiang, as of mid-June this year, Wandiannzhang has served more than 200 chain brands and over 10,000 stores. Its clients in the pharmaceutical industry include Laobaixing Pharmacy, Taiji Group, Huirentang, and Zuojinming Pharmacy, while star clients from other sectors include Bosideng, Laiyifen, Inman, and Dayali.

Its popularity among retail stores stems from Wandianzhang’s unique smart supervision solution. Through the Wandianzhang system, corporate supervisors can conduct store inspections remotely without visiting the physical locations, performing remote audits via mobile devices or computers. Upon identifying issues, they can require store managers to implement corrective actions in real time. The supervision process automatically generates reports and disseminates notifications within the system.

Additionally, the foot traffic analytics provided by Wanzhangzhang can help stores improve the conversion rate of in-store visitors. The foot traffic analyzer collects data such as customer counts, movement trajectories, and dwell times to assess the rationality of store product displays and provide optimization recommendations.

Given the Wandianzhang team’s extensive experience in retail chain operations, the company offers not only hardware and software solutions but also consulting services for store operations. These services include planning marketing campaigns and executing product promotions to support overall store management.