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Umanned convenience store Xingbianli secures USD 57M for market expansion, & more

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Unmanned convenience store startup Xingbianli receives USD 57M for Series A+


Founded in: 2017

Financing status: RMB 380 million (USD 58 million) for Series A financing in 2017

Unmanned convenience store, Xingbianli, received USD 57 million for Series A+ on November 1st for market expansion.

Xingbianli is an unmanned convenience store startup that deploys snack bars, unmanned convenience stores, and shelves in crowded places to meet customers’ immediate food 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. It is also expanding to fresh foods.

Founded in 2017 in Shanghai, Xingbianli has opened its unattended convenience stores and snack bars in 15 cities across China, as well as in some Chinese Internet companies, including Alibaba Group Holding Ltd., International Ltd., Baidu Inc. and China Mobile Ltd. By now, there are more than 10,000 unmanned convenience stores or shelves under operation. It just finished an acquisition of, a unmanned retail service provider for snack foods.

Previously, Xingbianli raised financing funding from Lightspeed China Partners, Zhang Tao, founder of Meituan-dianping, and Wang Xing, founder of Chinese social media platform, Renren Inc.. This Series A+ financing round was led by Sequoia Capital, with China Renaissance Group, Vision+ Capital and existing investor Lightspeed China Partners participating. The company plans to use the funds to expand its business to more cities across China.

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Car trading group Chehaoduo receives USD 180M for Series B+


Founder: Yang Yonghao

Founded in: 2015

Financing status: RMB 1.2 billion (USD 180 million) for Series B+ financing in 2017

Car trading group, Chehaoduo, received USD 180 million for Series B+ on October 31 to integrate new retail technology in the car trading business.

Chehaoduo is the parent company of two car trading platforms that offer used car and new car trading services, car appraisal, vehicle financial services, and insurance. Two large car trading brands: used car trading platform, and new car e-commerce platform, Maodou, into an upgraded Chehaoduo Group.

Its used car trading platform, Guazi, currently operates in over 200 cities in 30 provinces across China, and had a recorded total transaction value of over RMB 100 million (USD 14 million) by March this year.

The new car e-commerce platform, Maodou, offers installment payment solutions for customers purchasing new vehicles, and was launched in September. Its services currently cover 33 major cities in the country, and has established partnerships with 24 automobile factories covering more than 70 mainstream models.

By now, Chehaoduo also completed nearly USD 600 million in total for its Series B funding. won more than USD 400 million in Series B funding in June 2017, while Chehaoduo won more than USD 180 million in Series B+ funding in October. This new financing round was from a group of investors, including DST Global, Capital Today, Bank of China Group Investment Ltd, Sequoia Capital China and H Capital. The capital will be used to invest in new retail technology, expand Guazi platform’s business, as well as develop new car leasing businesses.

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