(Yicai Global) Aug. 31 -- Guoxiaomei, a firm engaged in the self-service smart shelf business, has raised over USD10 million in A-round financing led by a domestic first-tier investment institution.
The firm's initial investor has also increased capital. The round is the biggest in the domestic unmanned shelf business to date, online news outlet Jiemian reported. It previously netted CNY30 million (USD4.55 million) from IDG Capital Partners at the end of July.
Guoxiaomei has expanded to hundreds of outlets in the western Chinese city of Chengdu since its inception two months ago. It will look to enter markets in Beijing and other first-tier cities soon, reports say.