Daojia Completes $50 Mln Series D Fundraising

(RTTNews) - Beijing Shishang Renjia Networks Technology Co. Ltd. or Daojia, an online food ordering and delivery service provider in China, successfully completed its series D round of financing, raising $50 million.

JD.com (JD), a leading B2C e-commerce company in China, and Macquarie Capital co-led the investment.

Hao Sun, Daojia's Founder and CEO, said, "We are delighted to receive this latest round of fundraising which will enable Daojia to invest in and upgrade our core restaurant delivery services to better serve our rapidly growing customer base. We are focused on strengthening our technology infrastructure to help us reach our target of operating in 20 to 30 cities in China by next year."

Daojia is a self-operated, community-based delivery network operating in eight major cities in China. It has nearly one million registered customers, and primarily focuses on restaurant food delivery. Daojia takes orders through its apps, website and call centers.

This marks Daojia's fourth round of fundraising, with the previous round completed in September 2013. JD.com participated in the Series C round of investment last year.