Red Star Macalline and Bertelsmann-backed grocery delivery service secured funding in a series D round co-led by DST Global and Coatue.

Dingdong Maicai, a China-based online grocer backed by furniture retailer Red Star Macalline and media group Bertelsmann, has raised $700m in series D funding, DealStreetAsia reported yesterday, citing a company statement.

Investment firm DST Global and investment manager Coatue co-led the round, while Sequoia Capital China, Tiger Global Management, General Atlantic, CMC Capital, Ocean Link, Capital Today and Hony Capital participated as existing backers.

The round was filled out by new investors Aspex Management, 3W Fund Management, APlus Partners, Mass…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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