Unstaffed Shelf All day Secures USD2.7 Million in Its Pre-A Round Financing

Unstaffed Shelf All day Secures USD2.7 Million in Its Pre-A Round Financing

Tang Shihua

Date: Fri, 12/01/2017 - 17:42 / source:Yicai
Unstaffed Shelf All day Secures USD2.7 Million in Its Pre-A Round Financing
Unstaffed Shelf All day Secures USD2.7 Million in Its Pre-A Round Financing

(Yicai Global) Dec. 1 -- All day, an unstaffed shelf service provider run by Hunan All day Convenience Store Management Co., has secured USD2.7 million (CNY18 million) in its Pre-A round financing from joint investment by an undisclosed listed firm and cnhnb.com, an investor in its angel round financing, internet media lieyunwang.com reported.

Proceeds will mainly go to producing “All day smart office self-service shelves” and constructing supply chains, explained All day founder Ren Shuang.

All day’s smart shelves, which have been successfully developed, will be mass-produced in December and come into service at the end of the year, Ren added. All day purveys snacks and drinks with an average per-customer transaction value of about CNY6. Ren also predicts that All day will break even in a single city (Changsha) in December. 

All day is an open self-service shelf for office workers which has become a fixture in China’s southern cities of Changsha, Wuhan and Chongqing, with more than 1,500 participating enterprises, nearly 2,000 outlets and about 30,000 orders per day. Cnhnb.com’s confidence in the unmanned shelf business model and the data All day generates were the main inducements to its investment, it said. Staff-less shelves have already become an investment hotspot this year, one whose cumulative financing has recently reached CNY3 billion, per media statistics.

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Keywords: FINANCING, self-service retailer, All day