Hangzhou-based Lingdaiwa Network Technology, operator of office-focused self-service snack shelf brand Lingwa, recently received RMB 8-digit Series A funding from Long Hill Capital.
Lingwa deploys shelves filled with snacks, beverages, and fruits throughout partnering offices. Office workers scan a QR code to enter Lingwa's product selection and purchasing interface, where after selecting a product they can complete payment using mobile payment services WeChat Pay and Alipay.
The company also has a back-end management platform which provides offices with features including wholesale purchasing, product management, consumption record inquiry, and bill verification.
Lingwa allows snacks to be offered to employees as a company benefit, and also allows employees to pay for items themselves. Approximately one out of every nine products are given to employees as a company benefit. Lingwa is also working to add a video camera with a voice notification feature to its shelves, which will be able to capture user data via facial recognition.
Lingwa has deployed its shelves in Hangzhou and Shanghai, bringing in RMB 7-digits in monthly revenue.The company has deployed shelves in over 1,000 locations in Hangzhou, and is approaching 1,000 locations in Shanghai as well.
Lingdaiwa previously received RMB 8-digit pre-Series A funding in April from Zhizhuo Capital and RMB 7-digit angel funding in 2015 from Duoniu Investment Management, Yinxinggu Investment, and other investment institutions including Zhejiang University's Le Chuanghui alumni association.