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Morningside, Jingdong invest in Chinese food delivery service Daojia

  • Mirzaan Jamwal
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Existing backer Morningside Ventures and B2C e-commerce site Jingdong (formerly 360Buy) have led a Series C round of investment in Chinese online food ordering platform Daojia. The financial details of the transaction were not disclosed.

Established in April 2010, Daojia offers online food delivery services targeting the middle-class urban population in Beijing and Shanghai. Customers can order meals from local restaurants through Daojia's website, mobile app or call center, which will then be delivered by the company's self-operated delivery team.

It claims to have hundreds of thousands of users and partnerships with more than 1,800 restaurants. It employs more than 500 delivery staff.

"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," said Sun Hao, Daojia's founder and CEO, in a statement.

Citing data from iResearch, the company says that by 2015 food will represent one of the largest vertical segments of the China online-to-offline (O2O) market. The Chinese O2O market to expected exceed RMB270 billion ($44 billion) with 300 million customers.

Daojia previously raised $1 million from Northern Light Venture Capital Investment in 2011.

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