TAIYUAN, Sept. 23 (Xinhua) As stars twinkle and breezes whistle, Wang Hui drifted off to sleep in a forest cabin nestled in the mountains. Wang, a resident f
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© Provided by Xinhua TAIYUAN, Sept. 23 (Xinhua) As stars twinkle and breezes blow, Wang Hui drifted off to sleep in a forest cabin nestled in the mo
© Provided by Xinhua TAIYUAN, Sept. 23 (Xinhua) As stars twinkle and breezes blow, Wang Hui drifted off to sleep in a forest cabin nestled in the mo
Dingdong Maicai raises $700m for expansion By CHENG YU | China Daily | Updated: 2021-04-07 07:57 Share An employee of online grocery platform Dingdong Maicai packs vegetables in Shanghai. [Photo/Xinhua]
Chinese online grocery platform Dingdong Maicai has raised $700 million in its latest round of financing from a group of investors, further raising the stakes in the country s online grocery sector, which has seen diversified development despite the COVID-19 pandemic.
Led by DST Global and Coatue, the new fundraising attracted over 15 investors, including Tiger Global Management, General Atlantic, CMC Capital, Sequoia Capital China and Cygnus Equity, the company said.
Founded in 2017, the Shanghai-based e-grocer currently has a presence in 29 cities across the nation. The company said it will use the funds to expand into new areas and improve supply chains.