Beijing Shishang Renjia Networks Technology Co. Ltd., known more commonly as Daojia.com.cn or Daojia, has completed a series C round of funding. JD.com (Jingdong), a B2C e-commerce company in China, and China early stage venture capital firm, Morningside Ventures- also an existing shareholder of Daojia- co-led the investment. The amount of money raised was not made public.
According to iResearch, by 2015 the number of China online-to-offline customers will reach 300 million and China’s O2O market will exceed RMB270bn (US$44bn), with food representing one of the largest vertical segments. Daojia’s self-operated, community-based delivery network is unique in China’s food O2O sector, creating first-mover advantages, while enabling Daojia to have full control over its transaction process and customer experience.
“China’s Internet industry is entering a new era of O2O, which together with e-commerce is re-shaping consumer behaviour,” said Sun Hao, Daojia’s Founder and Chief Executive Officer. “We believe that partnering with Jingdong will provide tremendous benefits to our business in terms of improvements in IT and delivery services, and expansion into new cities. We look forward to a close and productive partnership.”
The company was established in April 2010. Total funding raised to date has not beenn made public.