Ding Dong is an online platform that brings a large number of people to your door. Recently, Dingdong Maicai, a Chinese grocery app, raised $100M in funding led by Softbank Vision, one of the greatest venture capital funds focused on investment in growing and technology-based companies.
Following this funding, the vegetable E-Commerce platform has completed a $700 million fundraising campaign in the field of online groceries and online vegetables delivered to your door, This investment round was one of the greatest investing rounds, which led to the online vegetable ECommerce platform’s value of over $1 billion as per softbankreuters.
Ding Dong is one of the greatest e-commerce platforms that support fresh vegetable production throughout the country. It is a China-based company that was founded in 2017 and had its headquarters in Shanghai, founded by Liang Chenglin, a worker from a remote village in eastern Anhui province.
Basically, his aim in founding this company was that he didn’t want to work as a factory worker for the rest of his life and wanted to do something different. With a view to providing fresh groceries to two people from one place to another, he opened a company named Dingdong.
At present, the company’s total valuation is more than $2000 million and it has successfully raised an amount of $1.3 billion in investment rounds.
The company witnessed a huge increase in its platform during the COVID pandemic period. As in the COVID pandemic, the demand for home delivery of groceries, vegetables, and other food items increased significantly, and the company witnessed huge growth in its platform as well.
At present, the factors are that online delivery platforms all over China are facing a huge inflow of investment in the company.
Previously, the company had raised $10 million in its series B funding round and added a value investor named Catherine Innovation, one of the leading, developing, and well-established investment firms.
Apart from this, it has several other value investors that are recognized and well established all over the world, namely: Tiger Global Management, American based investing from Ocean Link, a private equity firm that focuses on China’s consumer travel and TMT sectors; massive global, investing and managing company; Hony Capital, a Chinese private equity fund that focuses on investing; CMC Capital Group, China-based equity adventure capital formed specializing in growth and innovation; and many more.
DingDong is an online grocery store that was founded in 2017 by Liang Changlin with the view of providing an online food and vegetable store facility to customers.
The company is working hard to achieve success, and at present, it has raised an investment of $100 million, which brings the company’s total funding to $1.3 billion.