Shixing Shengxian secured USD 46M to streamline its fresh food e-commerce business, & more

Fresh food B2C e-commerce platform Shixing Shengxian receives USD 46M for Series C+

Shixing Shengxian

Founder: Zhang Hongliang

Founded in: 2015

Financing status: RMB 300 million (USD 46 million) for Series C+ financing in 2017

Fresh food B2C e-commerce platform, Shixing Shengxian, received USD 46 million for Series C+ on September 12 to expand its business to more cities.

Fresh food is one part of the market that e-commerce startups are still seeking opportunities to conquer, as it is hard to keep food fresh during delivery. There has yet to be any giants in this industry to capture a large share of the market. Market shares are divided by region because that makes it possible for companies to keep food fresh in one day. However, people don’t purchase much fresh food, as it is a relatively special commodity, so the cost of delivery is also a serious problem for both companies and customers. Today we have a fresh food e-commerce platform dealing with these problems in an innovative way.

Shixing Shengxian is a fresh food B2C e-commerce platform that provides customers with fresh food ordering and delivery services. Unlike traditional expresses that deliver fresh food to customers’ doors, it places refrigerated cabinets in communities and then delivers fresh food to these cabinets, and customers can get their food themselves. It has different cabinets for different kinds of food, such as vegetables, meat and so on.

Founded in 2017 in Suzhou, its services cover more than 2000 communities in three cities, including Suzhou, Wuxi, and Shanghai. In this way, customers and companies can both save on delivery while enjoying high efficiency fresh food delivery services. For example, Tmall’s online market charges RMB 20 if orders are less than RMB 88; while Shixing Shengxian provides customers with free delivery services when they purchase fresh food for more than RMB 29 on its platform, or charges RMB 3.5.

This new financing round was led by Tiantu Capital. The capital will be used to copy its business model in more communities in cities in Zhejiang and Jiangsu provinces, as well as in Shanghai, while at the same time optimizing its services for a better user experience.

Photo from Baidu Images.

Unmanned convenience store startup EasyGo received USD 3M for angel round


Founder: Wang Mumu

Founded in: 2017

Financing status: RMB 20 million (USD 3 million) for angel round financing in 2017

Unmanned convenience store startup, EasyGo, received USD 3 million for angel round on September 12 to launch new convenience stores in new regions.

EasyGo is an unmanned convenience store startup that mainly builds removable unmanned convenience stores targeting middle and high-end residential districts. Users can enter convenience stores by scanning a QR code with their smartphones. Users’ payment methods are connected to their faces; once users are finished picking goods, EasyGo’s system will recognize their faces and goods, and complete the transaction automatically.

Founded in 2017 in Guangzhou, it currently has several unmanned convenience stores in operation in Guangzhou. Each of its unmanned convenience stores accommodates 500 stock keeping units, and most of them are imported goods. Additionally, it is cooperating with property management companies to expand its businesses, maintain the operational work for its stores, as well as to keep it clean and safe. EasyGo also shares revenue with these partners.

This angel financing round was led by Yi Kun Venture Capital. The company plans to use the funds to copy its businesses in more cities, as well as build data platforms to optimize the SKU in its stores, in order to facilitate sales.  

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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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