Smart vending machine operator Citybox received USD 15 M for Series A
Founder: Wang Qiang
Founded in: 2016
Financing status: RMB 98 million (USD 15 million) for Series A financing in 2017
Smart vending machine operator, Citybox, received USD 15 M for Series A on September 1 to invest in market expansion plans.
Citybox is a smart vending machine operator that provides customers with fresh food and supports the whole category of merchandise for sale. Currently it is the only vending machine operator equipped with a mature anti-theft feature, as well as user-tracking facilities.
Citybox’s vending machines look like a typical refrigerator. Users can open the door by scanning a QR code on the vending machine through Alipay, and take goods away directly. The payment is processed automatically after the door closes. Users can also get the bill information on their smartphone.
Founded in 2016 in Shanghai, it is working with Alibaba’s personal credit rating service, Zhima Credit, to enable users to use the vending machines properly to enhance their credit record. Users will not be able to use the machines, however, if their credit score is not high enough. Meanwhile, it has partnered with Shanghai City Supermarket Co., better known as City Shop, and Shanghai Fruit day Co. to ensure a reliable food supply and safety in first-tier cities so that it can offer fresh food in its smart vending machines. So far it has signed contracts with more than 2,000 outlets across China, and expects that 50,000 vending machines will be in service by the middle of next year. The company has set up its smart vending machines in Shanghai, Beijing, Guangzhou, and Hangzhou, among more than ten other cities.
This new financing round was from GGV Capital, Yunqi Partners, Blue Lake Capital, and Zhen Fund. The capital will be used to invest in market expansion plans to place more smart vending machines in more cities, as well as update its vending machines for more consumption scenes.
Crafts jewelry making workshop Augusmith receives USD 3M for Series A
Founder: Liu Bing
Founded in: 2016
Financing status: RMB 20 million (USD 3 million) for Series A financing in 2017
Crafts jewelry making workshop Augusmith receives USD 3M for Series A on September 4 to release new products with famous fashion brands.
Augusmith is a workshop for crafts jewelry making. The workspace offers raw silver and bronze for pieces such as conventional jewelry (necklaces, bracelets, earrings, and rings) or more practical items such as long-handled bar spoons. For Jewelry designers, Augusmith offers a platform for teaching and presenting works; For customers, they can pay for its crafts jewelry making courses and sell their crafts jewelry that made by themselves. Besides, there are also some products that developed with MIYUKI, Swarovski and IBILITY are on sale on Augusmith’s workshops.
Founded in 2016 in Beijing, it has set op workshops in seven cities across China, including Beijing, Shanghai, Suzhou and among others. Each of its workshop covers an area of 150 square meters, one half for crafts jewelry making, and the other is for sale. It has an annual turnover at about RMB 10 million, averagely it charges RMB 200-300 for its experience course.
Augusmith grabbed this Series A financing round led by Telescope and Geekhouse Capital. It plans to use the fund to launch more workshops in China, and work with more fashion brands for new products. Meanwhile, it is also recruiting designers to enrich its experience courses.
（Top Photo From 58pic.com）