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Chinese online grocer Dingdong Maicai raises $330m

Vision Fund-led round to help startup meet fierce competition in sector

Dingdong Maicai plans to use the proceeds from its latest funding round to spruce up its supply chain.

SHANGHAI -- Chinese grocery app Dingdong Maicai on Wednesday announced it has raised $330 million in a Series D+ funding round led by SoftBank's Vision Fund.

Including the latest financing, Dingdong Maicai has now raised over $1 billion in its Series D round. In April, it had pocketed $700 million from an investor group co-led by global investment firms DST Global and Coatue.

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