Various market estimates suggest that between 20 to 50 Chinese startups have raised a total of over US$1.5 billion in Venture Capital (VC) within the cashierless retail sector. Since 2016, startups such as BingoBox, Bianlifeng, Xing Bian Li, Gump Come, Guoxiamei, Xiao Weidian, and more have each raised tens of millions of dollars’ worth of investment over several funding rounds. Venture capitalists are seemingly eager to throw money at this latest retail trend that is taking China by storm.
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