DeepBlue Closes USD16 Million A-Round to Bolster Retail AI
Tang Shihua
/SOURCE : Yicai
DeepBlue Closes USD16 Million A-Round to Bolster Retail AI

(Yicai Global) Feb. 5 -- Artificial intelligence service provider DeepBlue Technology Shanghai Co. has closed its CNY100-million (USD16 million) A-round funding as it looks to bring in new talent and set up a sector ecosystem to pave the way in retail AI.

Meridian Capital led the round with backing from Desun Investment in what was the third round of fundraising in a year for DeepBlue, which makes systems for unmanned retail, it said in a statement today. It closed millions of dollars in its angel round and bagged money from Jack Ma-run Yunfeng Capital in pre-A financing.

The firm will focus on three priorities this year, DeepBlue Chief Executive Chen Haibo said. These are immediate consumption channels for offices, upgrades in the slot machine sector and retail mobilization.

DeepBlue offers upgrades to traditional retailers by providing a range of 24-hour unmanned smart vending machines and staff-efficient stores. The firm also helps companies gather data about their users and consumption which can be exploited in marketing campaigns.

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Keywords: FINANCING , Fintech , AI , Smart Retail , DeepBlue Technology