Baidu and Fosun-backed automated retail system developer SandStar has now secured a total of $25m in funding and rebranded from YI Tunnel.
SandStar, a China-based retail technology developer backed by internet company Baidu and conglomerate Fosun, has raised an undisclosed amount in a series B round co-led by Guopeng Capital and Mobai Capital.
Founded in 2017 as YI Tunnel, SandStar is working on four distinct artificial intelligence-powered retail technologies: vending machines, automated checkout tills, unmanned stores and retail analytics.
The company emerged out of Tsinghua University and has now raised a total of $25m, it said this week. It will use the…
