Benzinga | Aug 23, 2021 09:55AM EDT

Missfresh Deploys Smart Vending Machines To Boost Contactless Shopping

* Grocery e-commerce platform Missfresh Ltd (NASDAQ:MF) has partnered with more than 5,000 businesses in Beijing to deploy Missfresh Convenience Go Smart Vending Machines on their premises.

* The move is a part of the company's efforts to drive the digitalization and modernization of the neighborhood retail industry.

* The Convenience Go Smart Vending Machines receive multiple replenishments in one day and provide convenient and easy access to food and drinks around the clock.

* Customers need to scan a QR code or use facial recognition to open the door of the vending machines.

* The AI-powered technology can accurately identify the products purchased by customers through both static and dynamic recognition algorithms and provide accurate inventory and restocking recommendations.

* Price Action: MF shares traded lower by 1.35% at $4.39 on the last check Monday.