China’s co-working startup UrWork announced that it has raised US$45 million (RMB300 million) Series C funding round led by Qianhai Wutong Mergers and Acquistion Funds, a M&A fund backed by regional equity exchange Qianhai Equity Exchange.
CKing Home-Key Investment Group and venture capital firm Context Lab also participated in the round.
UrWork claims it operates 78 co-working spaces in 20 major cities across mainland China, Hong Kong, Taiwan, Singapore, New York and London. The company plans to have 160 co-working space, with a total of 700,000 square meter in surface area in 32 cities globally to provide 100,000 office seats in the next three years.
In August, UrWork raised US$179 million (RMB1.2 billion) pre-C round from a group of Chinese investors, including property developer Beijing Capital Land Ltd., Beijing Xingpai Group, Beijing Aikang Group and investment firm Jingrong Holdings.