KEY POINTS
  • Walmart and JD.com will invest $500 million in Dada-JD Daojia, according to the Chinese online grocery delivery company.
  • Dada-JD Daojia was formed from the merger of JD Daojia, which is JD.com's online-to-offline business, and Dada Nexus, a large crowd-sourcing delivery platform in China.
JD.com is one of the biggest e-commerce and logistics company in China.

A Chinese online grocery delivery company Dada-JD Daojia said on Thursday it has raised $500 million from U.S. retailer Walmart and JD.com in its latest round of financing.

Dada-JD Daojia was formed from the merger of JD Daojia, which is JD.com's online-to-offline business, and Dada Nexus, a large crowd-sourcing delivery platform in China with operations in more than 400 major cities.