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Huishoubao secures USD 45M to expand its mobile phone recycling businesses, & more

Mobile phone recycling startup Huishoubao receives USD 45M for Series B

Huishoubao

Founder: He Fan

Founded in: 2014

Financing status: RMB 300 million (USD 45 million) for Series B financing in 2017

Mobile phone recycling startup Huishoubao received USD 45 million for Series B on October 10 for recruitment and market expansion.

Huishoubao is a mobile phone recycling startup that focuses on recycling mobile phones, iPads, and other digital gadgets through O2O (online to offline) channels that include a website, a Wechat account, and other partnerships. Users are asked to upload their products’ information online, and then Huishoubao will give an initial evaluation. Next, the company’s partner, SF Express, will finish the offline recycling as well as the delivery, and users will receive a more precise evaluation. If the customer has a problem with the evaluation, a customer service representative will contact and negotiate him or her. If the products are not good enough to be sold again, Huishoubao will sell the parts.

Founded in 2014 in Shenzhen, the turnover on Huishoubao’s platform has exceeded one million, with 15% good enough to be sold again. Meanwhile, it has formed partnerships with HUAWEI, Vivo, China Mobile, China Unicom, China Telecom, and other enterprises to promote its recycling business.

This new financing round was led by Haixia Capital. The capital will be used to recruit more talent, invest in market expansion plans, as well as expand its recycling businesses.

Photo from 699pic.com

Unmanned retail solutions provider Meiweishenghuo receives USD 4.5M for SeriesA1

Meiweishenghuo

Founder: Zhou Xianjun

Founded in: 2016


Financing status: RMB 30 million (USD 4.5 million) for Series A1 financing in 2017

Unmanned retail solutions provider, Meiweishenghuo, received USD 4.5 million for a SeriesA1 financing round on October 8 to place more smart vending machines in more cities across China.

Meiweishenghuo is an unmanned retail solutions provider that focuses on the research and development and operation of smart vending machines independently. It will expand its unmanned retail solutions to more areas with multi-category sales arrangements to meet customers’ complex needs and create a new retail supply chain. Meiweishenghuo mainly places its smart vending machines in offices and CBDs where there are always many people. It mainly sells instant food, snacks, fresh food, and drinks through its smart vending machines.

It was founded in 2016 in Beijing by Zhou Xianjun, who previously worked for Meituan-Dianping, and was the youngest regional manager with a team of more than 500 employees. Unlike other unmanned retail startups, Meiweishenghuo develops smart vending machines itself, as well as supply chain and standardized unmanned retail solutions. According to the founder, Meiweishenghuo believes that offline unmanned retail is the new entrance to an accessible connection to new users, and it is also a good chance for more consumption scenes, such as finance.

This new financing round was led by Matrix Partners China, with a group of investors participating, including K2VC, Light-Up Capital, Watrix Technology, Meituan-Dianping, Kuaishou, and so on. The capital will be used on market expansion plans.

(Top photo from 699pic.com)

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