Deals | Post bike-sharing frenzy, this startup raises $10M from IDG to test fridge-sharing in China

Zailouxia deploys staffless selling machines in residential communities.

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Deals | Post bike-sharing frenzy, this startup raises $10M from IDG to test fridge-sharing in China

Zailouxia (在楼下), a self-service selling machine operator, has raised over US$10 million Series A+ round of financing led by IDG Capital and Sinnovation Ventures, with participation from Vision Capital.

KrASIA previously reported in detail that the startup had raised three rounds of financing which were worth in total over RMB 100 million (approx. US$15.6 million) within three months since its inception in July 2017. Zailouxia also counts Unity Ventures and Hike Capital as existing investors.

Headquartered in Beijing, Zailouxia deploys staffless selling machines in residential communities, providing snacks, fresh food, and daily necessities. The startup adopts an O2O model, allowing users to shop online via WeChat mini program and get their purchases from the selling machine.

According to Zailouxia, it has deployed its selling machines in hundreds of residential communities in Beijing and is planning for an expansion both in the city and to other Chinese cities.

The expansion plan comes as the startup has upgraded its selling machines several times so that it could be mass-produced to support the upcoming fast expansion.

At the same time, during the past months, the startup has increased its SKU to around 2000. It now provides fresh food including salads to customers. Zailouxia also claims to have formed partnerships with big brands including Coca-Cola and Haidilao.

With the fresh funds, the startup seeks to expand to serve more customers and has experimented with the idea of group buying.

 

Read more about Zailouxia’s business model: Placing Staff-Less “Public Fridges” at Doorsteps, New Retail Pioneer Zailouxia Banks $15.2 M in 3 Months

 

Writer: HU Siqi