The student-focused e-commerce company has secured $31m ahead of its series B round from investors including existing backer Legend Holdings.

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…