Xingbianli secured USD 14M to compete in emerging “New Retail” sector, & more

Unattended convenience store Xingbianli received USD 14M for angel round


Founded in: 2017

Financing status: RMB 100 million (USD 14 million) for angel round financing in 2017

Unattended convenience store, Xingbianli, received USD 14 M for angel round on September 4th to expand its services to more consumption scenes.

We have reported on several unattended convenience in our Tech Financing column that secured venture funding in the past few months, such as Bingobox, F5 Future Stores, Xiaomai, and Citybox. Investors are obviously paying attention to “New Retail”, a term popularized by Alibaba’s Jack Ma to describe the emergence of new forms of retailing that integrate online and offline services. Today, we have a new startup that joined the New retail industry two months ago, and which recently secured angel round financing.

Xingbianli is an unattended convenience store that deploys snack bars, unattended convenience stores, and shelves everywhere to meet customers’ immediate consumption demands. Its services are based on big data technology and the new retail method that records and analyses customers’ preference and behavior, and adjusts its merchandise accordingly. Its convenience stores and snack bars mainly offer goods such as instant noodles, lunchboxes, juice, and chips.

Founded in 2017 in Shanghai, Xingbianli has opened its unattended convenience stores and snack bars in a number of cities across China, as well as in some Chinese Internet companies, including Alibaba Group Holding Ltd., International Ltd., Baidu Inc. and China Mobile Ltd.

This new financing round was led by Lightspeed China Partners, with a number of investors participating, including Zhang Tao, founder of Meituan-dianping, and Wang Xing, founder of Chinese social media platform, Renren Inc.. The capital will be used to expand its services to more consumption scenes, as well as improve its operational efficiency.

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Computer vision engine service provider Yi+ received USD 14M for Series B


Founder: Zhang Mo

Founded in: 2014

Financing status: RMB 100 million (USD 14 million) for Series B financing in 2017

Computer vision engine service provider, Yi+, received USD 14M for Series B on September 5 to invest in the research and development of its products.

Yi+ is a computer vision engine service provider that provides enterprises with intelligent and commercial solutions for visual content. For example, Yi+’s AI assistant can analyze stars, scenes, and objects in images or other media playback screens based on its vision recognition. It can then recommend the relevant products or provide users with relevant information. This can both meet users’ needs on buy the same clothes as celebrities, as well as business platforms’ need to attract customers.

Founded in 2014 in Beijing, its computer vision engine service has been applied to Alibaba, Youku, Huawei, Weibo and some other tech giants in China. Meanwhile, it is expanding its services to some new scenes, including smart TV’s, smart cameras, and smart marketing.

Yi+ grabbed this new financing round from a group of investors, including Haitong Securities Company Limited, Bank of Beijing, and more. It plans to use the funds to invest in the research and development of its products, as well as expand its services to more industries.

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Kaikai Shi

Kaikai Shi writes for us. He holds a bachelor's degree in Biotechnology at Zhejiang University. His interests are in new technology and reading. Kai believes that new technology will change the world we live in, and is trying to engage himself in this process.

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