BingoBox unveils new AI tech for its unmanned stores

BingoBox, China’s unmanned store startup, unveiled today its new AI solution called “Fan AI", a smart goods shelving and new check-out payment method powered by image recognition, facial recognition, and machine learning. BingoBox is a 24-hour self-service convenience store. With a simple smartphone scan, customers are able to enter the store, pick the goods, and pass through check-out with…

Video: We tested one of China’s unmanned stores and this is what we found

BingoBox is becoming one of the more vivid examples of how fast innovation is moving in China's retail industry along with Alibaba's initiative in unmanned stores powered by their face recognition technology. However, the concept isn't without its own teething problems. A BingoBox in Shanghai was closed for being too hot and when we tried one ourselves, we found the service had some flaws, such…

Beijing to put into service fully unmanned subway line this year

Beijing is expected to put into operation the first domestically-developed unmanned subway line in China this year, according to local media (in Chinese). The Yanfang Line (北京地铁燕房线) will be part of the capital city's subway construction spree, as authorities said they are pressing ahead with the construction of 20 subway lines stretching around 350 kms this year (in Chinese). The line…

Chinese driverless buses to hit European streets for first time

Pensioners at the central Trikala Square on September 4, 2019. (Image credit: TechNode/Eliza Gkritsi) The small city of Trikala, Greece offers some quintessential provincial scenes: bustling farmers' markets with vibrant colors and old men with bushy mustaches chatting on park benches. Delve deeper and you’ll discover public wifi, smart parking facilities, and coming soon, driverless buses.…

Luckin raises $865 million in post-IPO offering

A Luckin Coffee store in Beijing on Sept. 28, 2019. (Image credit: TechNode/Coco Gao) Chinese coffee chain upstart Luckin Coffee has raked in an additional $865 million in net proceeds through two separate fundraising moves announced earlier in January, the company said on Friday, as it seeks to fund its rapid expansion throughout the country. Why it matters: Momentum for the Chinese…

Luckin Coffee announces 2 new bids to raise cash

Luckin Coffee's self-service coffee machine. (Image credit: Rancaijing) Chinese online-to-offline beverage chain Luckin Coffee announced two separate developments on Tuesday aimed at a major cash raise including a five-year bond offering and a new share issuance, just eight months after its US stock market debut. Why it matters: Issuing debt and new shares is a signal that the company is…

Drone maker Ehang sets terms for US IPO, seeking $46 million

(Image credit: BigStock/Nik_Sorokin) Chinese drone maker Ehang seeks to raise up to $46.4 million in its US listing, according to company filings, less than half of the $100 million placeholder used when it filed its application in late October. Why it matters: Founded in 2014, the Guangzhou-based company specializes in commercial and aerial photography drones, and was the first to receive…

CHINA VOICES | JD’s vision of the future

Entrance to a JD unmanned convenience store (Image credit: Michael Norris) This week, China Voices brings TechNode Squared members a detailed take on JD’s quest for profits, reprinted by courtesy of Huxiu. TechNode has not independently verified the claims made below. This article was co-authored by Jordan Schneider. JD’s stock performance in 2019 has ticked up from its disastrous 2018,…

Chinese manufacturer tests advanced military drone: report

(Image credit: BigStock/Principal) A Chinese drone manufacturer is testing reconnaissance and strike drones designed for use in cities, according to a South China Morning Post report on Thursday. Why it matters: This is likely the first made-in-China unmanned aerial vehicle (UAV) and one of the few in the world that can carry out attacks and reconnaissance missions in densely populated…

XAG unveils delivery drone developed with Airbus

XAG co-founder Justin Gong handing out food delivered by the "Project Vesper" at XAG's headquarters in Guangzhou on Monday, Nov. 25, 2019. (Image credit: XAG) Drone maker XAG unveiled a new cargo delivery drone in a test flight on Monday at its headquarters in Guangzhou, a project developed in collaboration with Airbus, the world's second-largest aviation manufacturer. Why it matters: The…