Fengyi Technology

About Fengyi Technology

Shenzhen Fengyi Technology Co., Ltd. operates as an unmanned retail service provider, primarily known for its brand "Feng E Zu Shi" (丰e足食). The company was incubated by the logistics giant S.F. Holding in 2017. Fengyi Technology focuses on deploying and managing a network of AI-powered smart cabinets and vending machines, initially targeting office environments to provide snacks, beverages, and meals to white-collar workers. Over time, it has expanded its operational footprint to include a variety of semi-open locations such as logistics parks, industrial zones, government buildings, schools, and hospitals.

The company's business model is centered on a direct-to-consumer, brand-operated approach, leveraging an extensive logistics and warehousing system inherited from its relationship with S.F. Holding. It utilizes big data analytics and cloud technology to manage its retail operations, from inventory and supply chain to customer purchasing behavior analysis. Revenue is generated from the sale of goods through its smart retail terminals. The product selection is extensive, with over 600 SKUs available, including drinks, dairy products, baked goods, and snacks from well-known brands.

Fengyi Technology has secured significant funding to fuel its growth. It completed a Series A funding round of 300 million RMB in February 2022, co-led by CICC Capital and SoftBank Ventures Asia, with participation from Shenzhen Capital Group. This was followed by a Series B financing in September 2023, led by Hunan Caixin Industrial Fund Management Co., Ltd. The company's network has grown to over 100,000 terminals across more than 50 major cities in China.