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Alibaba, DST Leads $750 Million Investment in China’s Nice Tuan

  • D.E. Shaw, Anatole, Jeneration Capital invest in grocery app
  • Nice Tuan also attracts backing from CDH, GGV, Kunlun Capital
1496931837_Alibaba Shopping Bags
Photographer: Andrew Harrer/Bloomberg

Alibaba Group Holding Ltd. and DST Global led a $750 million investment round for Chinese grocery app Nice Tuan to help the startup expand in the increasingly competitive industry.

Nice Tuan, also known as Beijing Shihui Technology Co., attracted funding from others including D.E. Shaw & Co., Anatole Investment and Jeneration Capital, the company said. It will use the funding to bolster its supply chain and increase fresh produce offerings.