59Store, a China-based e-commerce company focusing on the student population, has raised RMB 200m ($31m) in pre-series B funding from investors including conglomerate Legend Holdings, China Money Network reported on Friday.
Legend invested through its corporate venturing arm, Legend Capital. Private equity firm Shenzhen Capital led the round, which also featured a range of unnamed backers.
Founded in 2011, 59Store operates an online platform through which students can order snacks and consumer products, and delivers to more than 1,700 student halls across China. The company claims to process some 200,000 orders per day.
Legend Capital and Shenzhen Capital provided RMB 30m in series A funding for 59Store in March this year.