Red Star Macalline and Bertelsmann-backed grocery delivery service secured funding in a series D round co-led by DST Global and Coatue.

Dingdong Maicai, a China-based online grocer backed by furniture retailer Red Star Macalline and media group Bertelsmann, has raised $700m in series D funding, DealStreetAsia reported yesterday, citing a company statement. Investment firm DST Global and investment manager Coatue co-led the round, while Sequoia Capital China, Tiger Global Management, General Atlantic, CMC Capital, Ocean Link,…

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