The two co-working space operators will each receive an equal share of the investment provided by Beijing Xingpai Group.
Two China-based workspace providers, URWork and 5Lmeet, have raised a combined RMB800m ($117m) from conglomerate Beijing Xingpai Group, according to China Money Network.
Both companies were founded by Mao Daqing, former vice-chairman at real estate developer China Vanke, and will each receive RMB400m. URWork’s funding was disclosed last week.
URWork intends to spread to 150 locations in 35 cities over the next three years, providing desks to as many 10,000 companies.
The latest round brings the total funding raised…
