Smart vending machine maker Feng1 raises RMB 300 million in Series A

Feng1, a smart vending machine company, has secured RMB 300 million ($47.1 million) in Series A, according to a 36Kr report. SoftBank led the round and is now one of Feng1’s largest investors, along with Mingde Holdings, a major shareholder in SF Express. Feng1 was founded in 2017 and incubated by SF Express, one of the largest courier services in China. According to its official website, Feng1’s services cover 28 Chinese cities with more than 50,000 terminals, serving 10 million users. [36Kr, in Chinese]