China’s leading vending company Ubox has secured 530 million RMB ($85 million USD) in funding from Carlyle Group in exchange for an undisclosed stake. The investment was made through the Carlyle Beijing Partners Fund, an RMB fund the investment institution has established with the support of the Beijing government.

The financing is earmarked to expand Ubox’s vending machine network across the country, improve its digital advertising businesses, and develop more value-added services.

Founded in 2010, Ubox is a key player in China’s vending machine industry. In addition to traditional vending services, Ubox is known for its pioneering O2O efforts in operating interactive vending machines, which enables customers to make purchases through their mobile app and then pick goods from offline vending devices.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.