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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
(Top photo from 699pic.com)
