Shenzhen Capital Leads $31M Pre-B Round In 59Store

Shanghai-based 59Store, an O2O (online-to-offline) platform focused on serving university students in China, has completed RMB200 million (US$31 million) pre-B funding round led by Shenzhen Capital Group, according to Chinese media reports.

Legend Capital and other unnamed investors also participated.

Founded in 2011, 59Store completed RMB30 million series A round from Legend Capital and Shenzhen Capital Group in March.

The company says it currently provides online ordering and delivery services of snacks and fast-moving consumer goods to university dormitories in over 1,700 schools. Its daily orders are around 200,000.

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