Chinese intelligent chain stores operation solution provide OP Retail recently completed a RMB80 million (US$11.3 million) Series B round financing, led by DT Capital Partners.
SND Ventures Group and Ocean Fortune Glory Asset Management also participated in the round.
Established in 2016, OP Retail provides intelligent management and data analysis services for retail stores to help improve operation and marketing effectiveness. Its products include video analysis-based chain store management platform, efficient collaboration platform, customer flow analysis system, image recognition-based intelligent replenishment system, face recognition-based precision shopping guide, interactive marketing and other cloud-based services.
OP Retail aims at offline retail chain scenarios, serving more than 1,000 brands. From drugstores, the company has expanded its services to chain areas such as clothing, food, and home furnishing.
After this round of financing, the company will continue to upgrade its products, improve its technology platform and three cloud-based modules: perception cloud, data cloud, marketing cloud, to realize an online-offline joint service matrix of chain stores, improve user experience, and establish long-term enterprise value.
Lu Hongyu, partner at DT Capital Partners, said: "Chinese enterprise services are a market with huge potential. We are optimistic about retail technology companies that help digital upgrades in all retailing scenarios. Empowered by cutting-edge technologies such as big data and cloud computing, OP Retail helps the traditional retail service industry improve management efficiency and user experience. We expect that OP Retail will grasp more excellent digital capabilities in the future to increase the value for retail enterprises and boost industrial growth."
OP Retail previously received a RMB15 million series A round financing from GSR Ventures in June 2017.