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China: Vending Machine CITYBOX Raised $15M in Venture Capital

Author:admin Source:本站 Update:2017-9-6 15:19:42   Click:94
A new generation of intelligent vending machine CITYBOX has come out, which is off to a good start! CITYBOX also described as the magic box has raised $15M in Venture Capital in Series A, from GGV Capital, Yunqi Partners, Blue Lake Capital and the Zhen Fund.

A new generation of intelligent vending machine CITYBOX has come out, which is off to a good start! CITYBOX also described as the magic box has raised $15M in Venture Capital in Series A, from GGV Capital, Yunqi Partners, Blue Lake Capital and the Zhen Fund.

As a new kind of mature and intelligent retail terminal, CITYBOX leaves its mark in vending machine sector for its innovative business mode that focus on the user experience. CITYBOX vending machine is seemingly like a refrigerator where users could experience a much easier and convenient shopping, just take and go! Remarkably, the payment is automatically processed and the bill info would be pushed to customers’ smartphones once they close the door.

CITYBOX is teaming up with Fruit Day and City Shop to retail all-encompassing fresh foods. It is equipped with the intelligent anti-theft and enhanced tracking system for users behaviors. So far, CITYBOX has been standardized and industrialized for the marketing and set operation teams in cities like Beijing, Shanhai, Guangzhou, Hangzhou, Chengdu, Qingdao, etc. As of this August, CITYBOX vending machines have been settled down in more than 2,000 outlets, mainly at office building, communities, supermarkets, schools, traffic hubs, etc. And it is projected to record 50,000 sets by the middle of next year.

“We underline the intelligent retail, root in technology and operation. In this emerging industry, retail is more of a business marathon that requires comprehensive capability and innovation awareness. CITYBOX will demonstrate its commitment to serve the users with more prompt and personalized products or service.” said Mr. Wangqiang, the Founder of CITYBOX & Chairman of City Shop & Co-founder of Fruit Day.

While Founder of Zhen Fund, Mr. Xu denoted that, Zhen Fund has been much involved in the new pattern of retail while CITYBOX highlights to serve the fresh food for public. The investment for CITYBOX is a good choice in view of their implicit teamwork and the far-reaching strategics of the founder.

Managing Partner of GGV Capital, Mr. Xu Bingdong viewed that, CITYBOX stands out as a team with experienced capability in supply chain and operation management. For the retail businesses, GGV thinks highly of the retail intelligence, supply chain and operation. CITYBOX is a good match for them.

China’s vending machinery pioneer a new retail era regarding its innovative technology and user experience. In the following years, a rising number of intelligent vending machines will market across China by leaps and bounds. For any insiders who year for tapping into China, the highly-recommended the 6th China International Vending Machines & Self-service Facilities Fair(China VMF2018) is the place not to be missed. More info, please reach at http://www.chinavmf.com/

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