Online Groceries eCommerce company Dingdong Fresh announced that its D round had been increased by another $330 million. Softbank Vision Fund led this additional round of funding.
Just more than a month ago, Dingdong Fresh announced the closing of a $700 million funding round. As a result, Dingdong Fresh's cumulative Round D funding reached $1.03 billion.
The growth of Dingdong Fresh has increased sharply in the past two years due to the strong group buying trend on the one hand and the external COVID-19 shock on the other. Dingdong Fresh already had a GMV of over 14 billion yuan last year and should grow much further this year. This funding is necessary because all major eCommerce companies are investing billions in the group buying trend.