Co-working space provider Fountown has achieved a $150m valuation in a series A round led by CDH Investments that included Huazhu Hotels Group.

China-based co-working space operator Fountown has attracted RMB200m ($30m) in series A capital from a consortium featuring hotel management company Huazhu Hotels Group, China Money Network reported on Friday.

The round was led by asset management firm CDH Investments and also included Gopher Asset Management. Fountown was valued at RMB1bn for the transaction.

Founded in April 2015, Fountown’s network currently counts 19 spaces with a total of more than 10,000 workstations. The company is primarily active in Shanghai but plans…