Dada-JD Daojia has raised $500m from existing backers JD.com and Walmart, which it says will quicken the growth of its delivery network across China.
The logistics company said it intends to use the funds to invest in supply chain technology and serve merchants on its platform, which connects scooter-riding drivers in about 400 cities with about 1.2m online merchants and delivers everything from packages to groceries. Walmart’s Chinese-based supermarkets are one of Dada-JD Daojia’s key clients. It currently serves 200 Walmart stores in 30 major Chinese cities.
Formed when JD merged certain business assets with Dada Nexus Ltd., the company is distinct from JD’s own logistics operations in that it mostly relies on freelance couriers.
Philip Kuai, founder and Chief Executive Officer of Dada-JD Daojia commented: “At peak times, Dada-JD Daojia delivers 1m orders per day, and its platform also acts as a shopping portal that promises delivery within an hour of orders. Dada-JD Daojia will deepen our partnership with leading retail partners and improve supply chain efficiency via technology.”
Source: Scmp.com
