China-based food e-commerce company 3Songshu, backed by publisher International Data Group (IDG), has obtained $47m in series D funding, China Money Network reported today.
The funding was provided by venture capital firm Frees Fund, set up by Li Feng. He previously served as an executive at IDG Capital Partners, an investment affiliate of IDG, and led the unit’s investments in 3Songshu.
Feng left IDG in August 2015 and has raised $150m for Frees Fund so far.
Founded in 2012, 3Songshu operates an online store that sells teas and snacks such as dried fruits, nuts and corns.
IDG Capital Partners provided $1.5m in series A funding in 2012, and returned the following year to participate in a $6m series B round alongside Capital Today. Both these shareholders returned in 2014 to contribute to a $19m series C round.