Dingdang Kuaiyao Valuation, Funding & Investors

Dingdang Kuaiyao is valued at $522M as of March 2019.

Last Dingdang Kuaiyao valuation

$522M

Series C · Mar 2019

Last Dingdang Kuaiyao funding round

$220M

Undisclosed stage · Jun 2021

Cumulative funding Dingdang Kuaiyao raised

$502M

across 4 funding rounds

Key investors in Dingdang Kuaiyao

  • Sinopharm Capital
  • OrbiMed
  • TPG
  • CMB International Capital Corporation
  • SBCVC
  • Yingke Capital

Dingdang Kuaiyao Overview

About Dingdang Kuaiyao

Dingdang Kuaiyao is a Shanghai-based O2O platform for pharmaceutical purchases and rapid home delivery. Users order via mobile app for medications delivered within 30 minutes from partnered pharmacies, operating in over 100 cities across China.


Founded

2014

HQ

ChinaBeijing

Website

ddsy.com

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Valuation

$522M (Mar 2019)

Dingdang Kuaiyao Valuation

Dingdang Kuaiyao is currently valued at $522M, based on its Series C in March 2019.

The $89M round included Sinopharm Capital, SBCVC and China Capital Investment Group.

Dingdang Kuaiyao valuation by funding round

Dingdang Kuaiyao valuation by funding round
DateStageValuation
Mar 2019Series C$522M

Dingdang Kuaiyao Funding History

Dingdang Kuaiyao has raised a total of $502M across 4 funding rounds.

Dingdang Kuaiyao's first fundraising round was a $43M Series A in December 2016. The most recent completed round was a $220M undisclosed-stage round in June 2021.

Dingdang Kuaiyao funding rounds

Dingdang Kuaiyao funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2021Undisclosed stageOrbiMed (lead); Redview Capital (lead); TPG (lead); Yingke Capital; Summer Capital; Valliance Capital; Orchid Asia Group Management$220M-Dingdang Kuaiyao (Dingdang Health) is a Chinese online-to-offline medical platform that allows users to purchase medicines and personal care items online with guaranteed delivery within 28 minutes to one hour. The company operates licensed pharmacies and provides integrated healthcare services including online medical consultation, chronic disease management, psychological counseling, and medication delivery across 10+ provinces and cities in China. In June 2021, Dingdang raised $220 million in a Series C financing round led by TPG Capital Asia and co-led by OrbiMed and Redview Capital, with additional investors including Valliance, Orchid Asia (Travis Global), Summer Capital, and Yingke PE. The founder and Chairman Yang Wenlong stated the funds would be deployed toward the "medical treatment + insurance" strategy and development of comprehensive one-stop healthcare services. The company achieved significant growth during the COVID-19 pandemic, experiencing a 51-fold increase in orders in early 2020. In Q1 2021, Dingdang reported revenue of 780 million yuan, up from 500 million yuan in Q1 2020. The company held a 25.3% market share in China's medical e-commerce sector at that time, ranking fourth behind Alibaba Health, Meituan, and JD Health. China's medical e-commerce market was projected to reach 215 billion yuan in 2021, representing 10% year-over-year growth.
Oct 2020Series BSinopharm Capital; Softbank China & India Holdings; Beijing Zhongguancun Longmen investment; Haier; Taikang Insurance Group; CMB International Capital Corporation$149M-Dingdang Kuaiyao operates as an online pharmaceutical platform providing on-demand medicine delivery and health services in China, leveraging O2O models where online direct sales account for over 70% of pharmaceutical revenue. It is associated with Dingdang Health Technology Group Ltd., a listed company on HKEX (9886), focusing on instant retail e-commerce for health products amid COVID-19 challenges with supply chain and delivery. Market context positions Dingdang Kuaiyao in the instant retail e-commerce platform sector, with group revenue per share metrics tracked post-IPO, declining slightly in recent years. Financials for Dingdang Health Technology Group show revenue growth: RMB 584.6 million in 2018, RMB 1.28 billion in 2019, RMB 2.23 billion in 2020, RMB 3.68 billion in 2021, and RMB 4.33 billion in 2022, with consistent losses including RMB 900.9 million loss before tax in 2020. The company emphasized local on-demand health services and nationwide supply chains during the 2022 epidemic. A later June round raised $220 million from Redview Capital and others.
Mar 2019Series CSinopharm Capital; SBCVC; China Capital Investment Group$89M$522MDingdang Kuaiyao, founded in 2014, operates as an online-to-offline pharmacy platform in China, offering rapid drug delivery within 28 minutes, 24-hour service, and services like online medical consultations and chronic disease management. It simplifies the pharmaceutical supply chain through a C2B2M model, partnering with over 600 global pharmaceutical companies via its FSC Pharmaceutical Alliance, bypassing middlemen to connect customer demand directly to manufacturers. The platform serves tens of millions of users across major cities including Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu, Tianjin, Nanjing, Hangzhou, and Wuhan, with thousands of physical stores. On March 27, 2019, Dingdang Kuaiyao completed its Series C financing round, raising CNY 600 million (approximately USD 89.6 million), with participation from SoftBank China (re-investing), CMB International, CICC Capital, and Sinopharm-CICC Capital. The funds supported expansion of its pharmacy network and services. This Series C followed prior rounds, with SoftBank China involved in recent financings. Subsequent rounds included a Series B+ in October 2020 raising CNY 1 billion (USD 150 million) from investors like Taikang Asset, Haier Biomedical, and existing backers, and a later round in June 2021 raising USD 220 million led by TPG Capital Asia, OrbiMed, and others. Major shareholders post-later rounds include Zhuhai Dingdang Sihao Investment (21.89%), founder Yang Wenlong (14.16%), SBCVC (8.53%), and CMB International (7.47%). Dingdang competes in China's growing medical e-commerce market, projected to reach CNY 215 billion in 2021, holding a 25.3% share as the fourth-largest player behind Alibaba Health, Meituan, and JD Health. It faced competition from traditional pharmacies partnering with delivery platforms like Ele.me and Meituan, and e-commerce giants Alibaba and JD.com. The COVID-19 pandemic boosted demand, with a 51-fold order surge early in the crisis.
Dec 2016Series ATongdaoo Capital (lead)$43M-Dingdang Kuaiyao, also known as Dingdang Medicine Express (Beijing) Technology Co., Ltd., is a Chinese online-to-offline (O2O) medicine platform guaranteeing delivery of over-the-counter medication within 28 minutes in downtown areas of multiple cities. It operates its own pharmacies, partners with over 600 pharmaceutical companies including GlaxoSmithKline and Bayer, and offers products like Chinese herbal medicines, medical equipment, cosmeuticals, and family care items. The company launched in February 2015 and had made 50 million deliveries by the time of its Series B round. In December 2016, Dingdang Kuaiyao raised RMB 300 million (approximately $43.4 million) in its Series A round. Tongdaoo Capital (also referred to as Tong Dao Capital) is listed among its major shareholders with a 6.84% stake as of later disclosures, consistent with participation in early rounds around that period. Subsequent funding included several hundred million yuan from SB China Capital in January 2018, a $45 million investment from SBCVC in 2018, a $90 million Series B led by SBCVC in 2019 with Sinopharm-CICC, CMB International, and CICC Qizhi, and a 1 billion yuan ($150 million) Series B+ in October 2020 with Taikang Insurance Group, Haier Biomedical, Longmen Investment, and existing investors. The company has used funds for pharmacy expansion, service growth to new cities, product innovation, and ecosystem development. Dingdang expanded to 10 provinces and cities, adding online medical consultations and chronic disease management. Zhuhai Dingdang Sihao Investment holds the largest stake at 21.89%, with founder and CEO Wenlong Yang at 14.16%, followed by SBCVC (8.53%) and others. Later financials show growth in the on-demand digital pharmacy sector from RMB15.7 billion in 2020 to a projected RMB138.0 billion by 2030.

Who has invested in Dingdang Kuaiyao?

16 investors have backed Dingdang Kuaiyao across its funding rounds, including Sinopharm Capital, OrbiMed, TPG, CMB International Capital Corporation, SBCVC and Yingke Capital.

Lead investors include OrbiMed, Redview Capital, TPG and Tongdaoo Capital.


Dingdang Kuaiyao Investors

Investors in Dingdang Kuaiyao by funding rounds participated
InvestorHQRoundsRoleFirst check
Sinopharm CapitalChinaShanghai2ParticipantMar 2019
Softbank China & India HoldingsHong KongHong Kong1ParticipantOct 2020
Tongdaoo CapitalChinaBeijing1LeadDec 2016
Beijing Zhongguancun Longmen investmentChinaBeijing1ParticipantOct 2020
Yingke CapitalChinaFuzhou1ParticipantJun 2021
Summer CapitalHong KongHong Kong1ParticipantJun 2021
HaierChinaChina1ParticipantOct 2020
Taikang Insurance GroupChinaBeijing1ParticipantOct 2020
Valliance CapitalUnited StatesSan Francisco, CA1ParticipantJun 2021
SBCVCChinaShanghai1ParticipantMar 2019
CMB International Capital CorporationHong KongHong Kong1ParticipantOct 2020
TPGUnited StatesSan Francisco, CA1LeadJun 2021
OrbiMedUnited StatesNew York City, NY1LeadJun 2021

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Dingdang Kuaiyao Competitors

Dingdang Kuaiyao competitors include listed companies like eDreams ODIGEO and Nerdwallet, and private ones like Breadfast, Snackpass, Dunzo and Daki.

Public and private companies comparable to Dingdang Kuaiyao
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BreadfastEgyptCairoPrivate$150M-$400M-
SnackpassUnited StatesSan Francisco, CAPrivate--$400M-
DunzoIndiaBangalorePrivate$24M-$775M32.3x
DakiBrazilSão PauloPrivate$4M-$800M200.0x
eDreams ODIGEOSpainSpainPublicly listed$770M$161M$517M1.1x
NerdwalletUnited StatesUnited StatesPublicly listed$837M$112M$587M0.6x

Dingdang Kuaiyao Public Comps

Dingdang Kuaiyao is still privately-owned, but its public comps include Cawachi, eDreams ODIGEO, Cachet Pharmaceuticals, Pague Menos, Dingdong (Cayman), Wirtualna Polska, trivago, Nerdwallet, Hypoport and HelloFresh.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Cawachi$1.8B$65M0.2x0.2x5.3x-
eDreams ODIGEO$770M$161M1.1x1.1x5.4x5.3x
Cachet Pharmaceuticals$2.9B$65M0.2x-9.2x-
Pague Menos$2.9B$222M0.4x0.4x5.4x5.7x
Dingdong (Cayman)$3.6B$34M0.1x0.1x7.3x-
Wirtualna Polska$585M$102M1.4x1.3x8.1x5.6x
trivago$632M$13M0.5x0.5x24.3x10.9x
Nerdwallet$837M$112M0.6x0.6x4.7x3.6x

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Common questions about Dingdang Kuaiyao

When was Dingdang Kuaiyao founded?Dingdang Kuaiyao was founded in 2014.
Where is Dingdang Kuaiyao headquartered?Dingdang Kuaiyao is headquartered in Beijing, China.
Is Dingdang Kuaiyao publicly listed?No, Dingdang Kuaiyao is a private, VC-backed company.
What is Dingdang Kuaiyao's valuation?Dingdang Kuaiyao was last valued at $522M in its Series C in March 2019.
How much funding has Dingdang Kuaiyao raised?Dingdang Kuaiyao has raised $502M across 4 funding rounds.
What was Dingdang Kuaiyao's last funding round?Dingdang Kuaiyao's last funding round was a $220M undisclosed-stage round in June 2021, led by OrbiMed, Redview Capital and TPG.
Who are Dingdang Kuaiyao's investors?Dingdang Kuaiyao's investors include Sinopharm Capital, Softbank China & India Holdings, Tongdaoo Capital, Beijing Zhongguancun Longmen investment, Yingke Capital, Summer Capital, Haier, Taikang Insurance Group, Valliance Capital, SBCVC and 6 others.
Which companies are comparable to Dingdang Kuaiyao?Companies comparable to Dingdang Kuaiyao include Breadfast, Snackpass, Dunzo, Daki, eDreams ODIGEO and Nerdwallet.

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