Walmart, JD back online grocer

Chinese online grocery and delivery company Dada-JD Daojia announced on Thursday it had raised $500 million from US-based retail giant Walmart Inc and Chinese e-commerce behemoth JD in its latest round of financing.

Walmart invested $319 million in the latest fundraising, while JD invested $181 million. After this round of financing, Dada-JD Daojia said it would deepen its partnership with leading retail partners and improve supply chain efficiency via technology.

Dada-JD Daojia, which is partly owned by JD, includes two businesses. Dada is an on-demand logistics platform with operations covering more than 400 major cities across China, serving over 1.2 million merchants and 50 million individual users, with a peak of 10 million daily orders.