China VC-backed online campus store 8Dol raises $30m

Domestic fund Jiangsu Suda Tiangong Venture Capital also participated, according to a release.

Founded in 2013, 8Dol's mobile app allows students to order food, drinks, meals and fresh produce online. The start-up has developed its own supply chain and logistics network, operating more than 14 warehouses and 500 distribution centers. It claims to cover over 2,000 universities and 1,000 office buildings and convenience stores in about 50 Chinese cities.

AVCJ Research records show 8Dol raised funding rounds from Shunwei Capital Partners and Fosun Kinzon Capital in March last year.

As part of the strategic investment, 8Dol.com will cooperate with Longrich to develop new products targeting the new generation. The company will use the fresh funding to expand its online retailing business.

Longrich produces a variety of household cleaning products and personal care products. It has eight R&D centers globally. 

Several online campus store have previously raised funding from VC and strategic investors. Last year, Zhai.me, a Shanghai-based online convenience store aimed at students, raised $35 million in a Series B round. Its rival 59store.com also raised $31 million in a pre-Series B round led by Shenzhen Capital Group.

Prior to that, Imcoming.cn, a Chinese mobile e-commerce platform focused on students, completed a RMB110 million Series A round of funding led by Greenwoods Investment and Sharing Capital.

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• Topics
• Greater China
• Venture
• Technology
• Expansion
• China
• Venture
• TMT
• Shunwei Capital Partners
• Fosun Group
• Growth capital