Vending

Chinese vending manufacturer secures $47M

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February 8, 2022

Feng1, a China based vending machine manufacturer, has raised RMB 300 million ($47.1 million) in Series A, according to a 36Kr report.

SoftBank, a Tokyo based provider of mobile communications and ISP services, led the round, along with Mingde Holdings, a shareholder in SF Express, a China based courier service.

Feng1 was incubated by SF Express in 2017.

Feng1 services more than 28 Chinese cities with more than 50,000 terminals.