Fresh juice vending machine startup Vingoojuice receives USD 60M for Series B
Founder: Zhou Qi
Founded in: 2009
Financing status: RMB 400 million (USD 60 million) for Series B financing in 2017
Fresh orange juice vending machine startup, Vingoojuice, received USD 60 million for Series B on October 17 to expand to the unmanned retail industry.
Vingoojuice is a vending machine startup that places smart vending machines in cities that peel, squeeze, and pour fresh orange juice on demand. The machine is stocked with whole oranges that are peeled, squeezed, and served in a cup to the customer, all in a few seconds. There is no sugar, preservatives, or other additives involved. Additionally, it charges an average of RMB 10 for each cup of its orange juice.
Besides orange juice, its vending machines offer other fruits, including bananas, pears, and apples. Customers can choose which combination of fruits they wants, along with the option to add milk. It also plans to sell various fresh food, bread, salad, and fried chicken in the future. Customers can monitor and manage the ordering and payment process with their smart phones.
Founded in 2009 in Shanghai, Vingoojuice’s smart fresh food vending machines number over 3000 and are are available in 176 cities in China.
This new financing round was led by Legend Capital and Joy Capital, with Yunqi Partners participating as investors. The capital will be used to manufacture more vending machines, launch unmanned convenience stores, as well as invest in the research and development of new vending machines.
Autonomous driving technology startup Momenta receives USD 46M for Series B2
Founder: Cao Xudong
Founded in: 2016
Financing status: RMB 200 million (USD 30 million) for Series B2 financing in 2017
Autonomous driving technology startup, Momenta, received USD 30 million for Series B2 financing round on October 17 to invest in artificial intelligence technologies.
Momenta is an autonomous driving technology startup that aims to build a self-driving brain based on deep learning and big data technologies. Its core technologies cover high resolution digital maps, driving decision solutions and machine vision technology for autonomous driving, in order to enable vehicles to detect traffic signs, recognize pedestrians and track other cars on the road.
There are currently two competing solutions for self-driving cars to detect their surroundings. One is high-resolution LIDAR, a method used by companies like Google and Baidu. Momenta uses the other one, a machine based method, which is a less expensive but requires advanced algorithms.
founded in September 2016 in Beijing, Momenta previously raised funding from Shunwei Capital, Blue Lake Capital, Sinovation, Zhen Fund, as well as Chinese electric car company NIO, Sequoia Capital China and Hillhouse Capital. This Series B2 financing round was led by Cathay Sino-French Innovation Fund, with GGV participating as an investor. The company plans to use the funds to improve its artificial intelligence technologies such as big data and big data computing, recruit more talents to facilitate its research and development process, commercialize its high-resolution digital map technology, and develop level-four autonomous driving technology.
(Top photo from Vingoojuice.com)