Feng-E Technology Completes RMB 300 Million Series A Funding to Accelerate Large-Scale Development

36Kr has exclusively learned that Feng-E Technology, a leading unattended retail operator, has completed its Series A funding round, raising RMB 300 million. This round was led by SoftBank Ventures Asia, with participation from the CICC Cultural and Consumer Industry Equity Investment Fund (under CICC Capital) and Shenzhen Capital Group (SCGC).

Following this financing, Mingde Holding (an affiliate of SF Holding) and SoftBank Ventures Asia stand as the joint largest shareholders. The funds will primarily be used to accelerate scale growth and enhance operational efficiency and service quality.

Incubated by SF Express in 2017, Feng-E Technology focuses on office environments. Utilizing the Feng-E Smart Market as its core carrier, the company provides urban white-collar professionals with a diverse range of products, including breakfast, afternoon tea, snacks, and beverages. Currently, its consumption scenarios have expanded from closed office spaces to semi-open areas such as logistics parks, co-working spaces, factories, government institutions, schools, and hospitals.

According to the company, Feng-E Technology remains firmly optimistic about the commercial value of near-field unattended retail. Smart Markets offer a small footprint, flexible scenario adaptation, and high consumption potential, representing a massive market opportunity. Inheriting SF Express's DNA for premium service and logistics supply chain advantages, Feng-E Technology continues to invest in meeting scenario-specific demands, optimizing supply chains, and iterating product R&D to deliver an ultimate user experience driven by operational efficiency.

Ding Haipeng, Partner at SoftBank Ventures Asia: ”Offline unattended retail scenarios possess immense commercial value and serve as an irreplaceable channel for brands to reach consumers. We are impressed by the Feng-E Technology team’s exceptional operational and business development capabilities. They continue to enrich their touchpoints, providing consumers with a more convenient and superior shopping experience.“

The CICC Cultural and Consumer Fund Team (CICC Capital): "China’s unattended retail market is growing rapidly. Compared to traditional vending machines and open shelves, Smart Markets offer greater scenario adaptability, fewer site limitations, and broader market potential. Through its unique BD and operational model, Feng-E Technology has successfully validated the economic model for lower-tier locations. We believe that under a management team that combines mature strategic thinking, innovative algorithmic technology, and high-efficiency execution, the company will become a market leader."

Zhang Zhikai, Head of Industrial Fund Investment at Shenzhen Capital Group (SCGC): "Consumer habits are shifting toward paying for convenience. Unattended retail is penetrating from open scenarios into high-barrier office environments, which demands higher capabilities from startup teams. Unlike traditional internet startups, Feng-E Technology was incubated by the logistics giant SF Express and receives significant resource support. It has established a market-oriented, replicable, and algorithm-driven operational mechanism, making it the largest and fastest-growing company in the office unattended retail sector. We remain highly optimistic about its future."