Xing Bian Li (meaning New Convenience), a Shangai, CHina-based new retail company which integrates online and offline channels, along with offering both services and products, raised US$15m in angel funding.
The round was led by Lightspeed China Partners with participation from Tao Zhang, Xing Wang, Shuhong Ye, Huiwen Wang, China Internet Plus Group’s founders.
Led by Michael Lv, ex-President of Chinese internet giant China Internet Plus Group’s (Xin Mei Da) general business group, and ex-COO of dianping.com, Jianghua Si, Yixin Jiang and Gyoson Fukuda, Senior Vice President of Rosen Japan, Xing Bian Li has announced a merger with O Jia O (meaning Oh plus Oh) (Shanghai) Ltd, the actual operator of unattended convenience stands. After the merger, the new company will consistently use the brand name “Xing Bian Li” to establish a global presence in the New Retail industry.
Xing Bian Li will now plans to grow rapidly entering the unattended convenience shelves and new convenience stores and expanding cooperation with China internet companies including Alibaba, Ctrip, Baidu, China Mobile, Liepin.com, as well as Fortune 500 companies including Johnson & Johnson, Ping An Insurance etc.