China-based smart point-of-sales technology developer Yunnex has raised RMB300m ($45m) in series B funding from investors including fast food chain Ajisen Ramen, China Money Network reported yesterday.
The round also featured venture capital firm GSR Ventures and, according to Asian Venture Capital Journal, Shanghia Xiong Hou Investment. AVCJ also reported that Ajisen Ramen invested $17m in the round.
Yunnex provides internet-connected POS machines that include features such as barcode and coupon reading, messaging, sales management and e-commerce capabilities.
The company currently supplies businesses including Ajisen Ramen in some 200 Chinese cities. It intends to invest the series B capital in further expansion and research and development.
GSR Ventures previously participated in Yunnex’s $16m series A+ round together with fellow VC firm FH Capital in November 2015.