THANK YOU FOR SUBSCRIBING
SandStar supports intelligent retail transformation through AI technology such as AI computer vision and advanced semantic action recognition. The company currently operates out of 12 countries
FREMONT, CA: Chinese AI retail tech company SandStar secured an investment from True Digital Group (TDG), a digital arm of True Corporation, a Thailand telecommunication company, and an affiliate of the Thai conglomerate C.P. Group, as part of its Series B+ funding round. The amount for the funding round remains undisclosed. SandStar previously received investments from Baidu Ventures, Kinzon Capital, Fengshion Capital, Guopeng Capital, and Mobai Capital.
SandStar supports intelligent retail transformation through AI technology such as AI computer vision and advanced semantic action recognition. The company currently operates out of 12 countries. The company will leverage the proceeds from the Series B+ rounds to expand its operations in international markets like Europe, U.S., Middle East, Japan, Korea, and Southeast Asia. The company selected TDG as its strategic investor as both companies have been cooperating for over two years. TDG is also one of the leading integrated B2B digital service providers in Southeast Asia. It provides digital media platforms, O2O, big data analysis, IoT, digital solutions, and a variety of businesses, which can provide SandStar with rich technical and market support in the AI+retail tech landscape.
SmartStar’s vending machines help reduce 40 percent of replenishment costs. The analysis function in SandStar’s products helps optimize a series of business strategies such as product selection, pricing, and display. This results in a 30 percent increase in sales performance. The cost of operations for SandStar’s unmanned store solution based on dynamic pure visual technology is only one-twentieth of Amazon Go. It also offers a recognition accuracy rate of nearly 9 percent and can track customer information, behavior paths, and full shopping behavior in real-time. The company’s AI smart check counter is capable of identifying over 30,000 kinds of commodities, including standard products and non-standard products, without changing the existing IT systems and equipment.