Tuesday, 2024 February 27

AI startup SandStar notches funding from Thai conglomerate in Series B+ round

AI startup SandStar announced today that it has received an undisclosed amount of capital in Series B+ funding from True Digital Group, the digital arm of True Corporation, a telecommunication company and affiliate of Thailand’s conglomerate C. P. Group. It will use the fresh funds to further expand around the globe—namely Southeast Asia, Japan, Europe, Middle East, and the United States—over the next two years.

Founded in 2016, the company provides AI solutions for the retail industry. With over 220 engineers in tow, SandStar provides “Smart Kiosks” and “Smart Store” analytics, which have been adopted in 12 countries and regions around the world, according to the company. It claims to be similar to Amazon Go but “with much lower costs.”

“Cutting-edge technologies would be just gimmicks if they can’t provide solid benefits for customers they serve,” CEO Yili Wu said in a statement.

With headquarters in the United States and China, SandStar was formerly known as YI Tunnel. It raised USD 25 million in its Series B back in 2019 from China’s Baidu Ventures, Kinzon Capital, and Mobai Capital, among others.


Related Read