China's biggest co-working brand, Ucommune (formerly UrWork), has secured 45 in investment from Qianhai Wutong Mergers & Acquisitions Funds, just two months after raising $$17.3mm in a series C funding round. The latest cash injection gives Ucommune a market value of $1.4bn, while its expansion plans set it firmly against New York-based rival WeWork. While the latter is planning launches in eight Chinese locations, Ucommune, which has a presence in China, the US and London, among other cities, is eyeing the Taiwan market, after opening bureaus in Hong Kong and Taipei.
China's biggest co-working brand, Ucommune (formerly UrWork), has secured $17.3m in investment from Qianhai Wutong Mergers & Acquisitions Funds, just two months after raising $45m in a series C funding round. The latest cash injection gives Ucommune a market value of $1.4bn, while its expansion plans set it firmly against New York-based rival WeWork. While the latter is planning launches in eight Chinese locations, Ucommune, which has a presence in China, the US and London, among other cities, is eyeing the Taiwan market, after opening bureaus in Hong Kong and Taipei.