Chinese Online Grocer Dingdong Maicai Raises $700 Million in Latest Funding Round


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April 7, 2021 Dingdong Maicai operates approximately 1,000 warehouses across 27 cities in China. (Source: Xinhua) Chinese grocery platform Dingdong Maicai has raised $700 million in a series D round of financing co-led by investment firms DST Global and Coatue Management as the startup continues its expansion in the crowded fresh food delivery market.The company also received investment from previous backers including Tiger Global, General Atlantic, Sequoia Capital and Ocean Link, according to a Tuesday statement by boutique investment bank Cygnus Equity, which participated in the fundraising as both an investor and financial advisor.The statement added that the online grocer...