OP Retail, one China retail solution provider which has empowered over 2,000 brands with its cutting-edge sensors and analytics, is now extending its business globally after the round B financing. According to OP Retail, it has already entered 30 countries and will mainly aim at markets in South Africa, UAE, Singapore, the United States and, the United Kingdom in near future.
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Jayson Zhou, the founder of OP Retail, believes that the company has now reached a turning point. ” People used to intent more on digitalizing the entire scene. But now the concept is changing, that is, they are more concerned about using digitalization as tools and improving their daily store operations. I have confidence that with our rich experience, we can provide the same premium quality service globally with several tweaks.”
With the success of cooperating with 60% top 100 pharmacy chain stores at the beginning. OP Retail started developing its solutions for other industries, including famous clothing brands: Skechers, Adidas, Nike, Frank And Oak, Ochirly, ANTA, Bosideng. FMCG brands: Miniso, M&G shop, KKV. Catering brands: Shake Shack, KFC. Home furnishing brands: IKEA, TOTO. Auto services: Tesla. Electronics brands: Dell, VIVO, HUAWEI. EXPOs: EXPO 2020 in Dubai. etc.
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In 2020, OP Retail completed the round B financing of 80 million RMB, which was led by DT Capital, followed by OFG Fund and SND Group. The financing was mainly used for product and service upgrading. Previously, OP Retail received a 15-million RMB round A investment from GSR Ventures for product optimization and deeper industry coverage.
Regarding the investment logic, Lu Hongyu, a partner of DT Capital, said: “We continue to be bullish on retail technology companies that help digital upgrades in all scenarios. OP Retail uses big data and cloud computing to empower the traditional offline retail service industry, greatly improving the operating efficiency and user experience in physical stores. We believe OP Retail will boost the retail industry growth with its constantly evolving digital service.”