True Digital Group supplied a nine-digit renminbi amount for the Baidu-backed smart retail system developer that will fund international growth.
China-based automated retail technology developer SandStar has received an amount of series B-plus funding from telecommunications group True Corporation sized in the nine-figure renminbi (RMB100m = $14.3m) range according to China Money Network.
True, an affiliate of conglomerate CP Group, made the investment through its digital services subsidiary, True Digital Group. It had raised a total of $25m as of a September 2019 series B round co-led by Guopeng Capital and Mobai Capital reportedly sized at about $14m.
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