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Self-service Snack Shelf Operator Guoxiaomei Lands RMB 8-digit Funding

iFeng Finance, 8/21/17

Chengdu-based unmanned snack shelf operator Guoxiaomei Network Technology recently received pre-Series A and Series A funding totaling an RMB 8-digit sum led by IDG Capital Partners (IDGVC).

Gouxiaomei, which has positioned itself as a self-service convenience store for offices, received angel funding in late June from IDGVC, Frees Fund, and individual investors including Meng Xing, the founder of food brand Diaoye Beef Tenderloin, and Luo Xi, founder and CEO of smart hardware incubation brand Redianchang.

Guoxiaomei self-service shelves are stocked with snacks such as potato chips, flavored milk drinks, cakes, crackers, and dried fruits. Each item has a QR code on it which users can scan with a smartphone to view the item's basic information and price. Users can then pay for the item using mobile payment services WeChat Pay or Alipay. Guoxiaomei's back-end system can also use big data analysis to restock shelves in a timely manner via its "Tian Xian Pei" (literally "Daily Fresh Delivery") logistics system.

Guoxiaomei has deployed its shelves across hundreds of businesses and expects to rapidly expand coverage in Chengdu in the second half of this year. Once the company has achieved full coverage in Chengdu, it will begin deployment in other cities such as Hangzhou, Beijing, and Chongqing.

Editor's Note: In a telephone conversation with Marbridge, a Guoxiaomei customer service representative said that while the shelves are self-serve, the company has put in some measures to discourage theft. For example, if Guoxiaomei discovers that over 5% of items from one of its shelves have been taken, but have not been paid for, then the company will remove the shelf from that office.

Keywords: wireless retail wireless funding mobile payment Series A IDGVC Guoxiaomei VC snack shelf

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