What happened: Yunxiang Zhihui (云享智慧), a smart AI sales assistant 2B solution provider, announced to have received funding for Pre-A Series which is up to tens of millions. The company formally became a partner of Uniqlo – one of the largest price-for-value clothing retail brands in the world – in China, in March this year in Shenzhen. According to Yunxiang Zhihui, about every ten interactions a customer has with the smart sales machine will land a deal. The company expects an annual revenue of RMB 15 million for 2018.
Why it’s important: The Pre-A Series funding Yunxiang Zhihui received signals capital’s interest in tech applications in real, high-frequency, and commercial events such as a retail operation. Uniqlo’s leading position in the retail industry provides physical opportunities for third-party service businesses to cut into the smart retail operation field which is usually dominated by Alibaba, JD, and their partners.