Chinese grocery app Nice Tuan raises $750 million to bolster supply chain

Nice Tuan, a Chinese community e- commerce platform, has raised nearly $750 million in a funding round led by Alibaba Group Holding Ltd and DST Global.

Founded in 2018, the Beijing-based grocery app will not only use the funding to bolster its supply chain but also for increasing fresh produce offerings.

Last year, the e-commerce platform raised about $196 million in a Series C3 round as the COVID-19 pandemic has significantly boosted the demand for online purchases of fresh produce.