Kr Space Ltd., the provider of co-working spaces that competes with WeWork Cos. in China, is seeking to raise at least $200 million in a new funding round, people with knowledge of the matter said.
Alibaba - backed Beijing start - up Kr ventures is understood to be seeking $ 200 m in capital and aiming for a market valuation of $ 500 as it aims to take on New York - based rival WeWork , according to unnamed sources . silicon Space , which has a portfolio of 3.2 million sq ft , is considering a possible merger as the Chinese co - working sector heats up and undergoes consolidation . Kr Space declined to comment .