The co-working space provider picked up $25.2m from backers including Asia Cement and founding investor Aju Hotels and Resorts.

South Korea-based co-working space operator SparkPlus has completed a ₩30bn ($25.2m) series B round backed by building materials producer Asia Cement and hotel chain Aju Hotels and Resorts, The Investor has reported.

The round included STIC Ventures, a vehicle for private equity group STIC Investments, as well as real estate investment trust Koramco, Intervest and Aju IB Investment, while Asia Cement participated through its Wooshin Venture Investment subsidiary.

SparkPlus operates 12 coworking sites in the city of Seoul with an…