Beijing Xingpai Group has returned a second time to invest $29.8m in Ucommune through a real estate affiliate, two months after reports the co-working space provider was preparing an IPO.
China-based co-working space provider Ucommune has secured more than RMB200m ($29.8m) in funding from an unnamed real estate affiliate of industrial conglomerate Beijing Xingpai Group, China Money Network has reported.
Founded in 2015 as URWork, Ucommune operates more than 200 co-working spaces in cities across China as well as Taiwan, the US and Singapore. Between them, the locations have attracted more than 120,000 members to date.
The service offers hot desks and team tables in addition to entire customised private…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
