Tech Financing in China this week – Unmanned convenience stores lead investment trend

Our weekly column summarizes the tech financing highlights in China this week.

As the concept of unmanned convenience stores expand across China, it attracts more and more venture funding. More people are recognizing customers’ demands for instant food. So, this week we see startups directly placing convenience shelves in companies and offices that secured large amounts of funding. Three companies secured hundreds of millions of USD from investors for convenience shelves, which are more likely to access high quality customers, and meet demands for instant food and relevant services.

Smart vending machine operator Citybox received USD 15 M for Series A

Citybox

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.

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Photo from 699pic.com

Fitness brand Good Feeling received USD 15 M for Series B

Good Feeling

Founder: Zhang Chunshan

Founded in: 2004

Financing status: RMB 100 million (USD 15 million) for Series B financing in 2017

The fitness brand, Good Feeling, received USD 15 M for Series B on August 30 to launch its fitness clubs in more cities across China.

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Photo from 699pic.com

P2P car rental service platform Atzuche receives undisclosed Series C+

Atzuche

Founder: Chen Weiyu

Founded in: 2014

Financing status: Undisclosed Series C+ financing in 2017

P2P car rental service platform Atzuche receives undisclosed Series C+ on August 30 to update its services.

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Photo from 699pic.com

Crafts jewelry making workshop Augusmith receives USD 3M for Series A

Augusmith

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.

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Photo from 58pic.com

Unattended convenience store Xingbianli received USD 14M for angel round

Xingbianli

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.

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Photo from 699pic.com

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

Yi+

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.

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Photo from 699pic.com

Women’s clothing rental firm YCloset received USD 50 M for Series C

YCloset

Founder: Liu Mengyuan

Founded in: 2015

Financing status: RMB 326 million (USD 50 million) for Series C financing in 2017

Women’s clothing rental firm, YCloset, received USD 50M for Series C on September 6 to optimize the user experience.

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Photo from 699pic.com

Co-working and incubator startup Krspace received USD 14M for Series B

Krspace

Founded in: 2014

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

Co-working and incubator startup, Krspace, received USD 14M for Series B on September 5 to release the new version of its co-working office.

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Photo from 699pic.com

AI solution provider Roobo receives USD 54M for Series B

Roobo

Founder: Liu Yinbo

Founded in: 2014

Financing status: RMB 350 million (USD 54 million) for Series B financing in 2017

AI solutions provider, Roobo, received USD 54M for Series B on September 6 to invest in product updates and recruiting.

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Photo from 7kola.cn

Convenience shelf startup 7Kola received USD 7M for Series A

7Kola

Founder: Wen Chaohui

Founded in: 2017

Financing status: RMB 50 million (USD 7 million) for Series A financing in 2017

Convenience shelf startup, 7Kola, received USD 7M for Series A on September 7th to optimize its business.

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(Top photo from 699pic.com)

Kaikai Shi
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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