URWork, China’s co-working unicorn, announced today an RMB 200 million ($29.41 million) strategic equity investment from Beijing’s Aikang Group (in Chinese) to boost its ecosystem of support services for customers. With over 20 years investing in healthcare, finance, hospitality and real estate, Aikang Group will bring resources from the traditional sectors to help build a “highly innovative and specialized service-oriented co-working experience” that will go into effect in the first half of 2018.

The new investment adds to URWork’s six rounds of funding totaling RMB 1.2 billion ($175 million) and one merger since its inception in April 2015.

According to founder Mao Daqing, a former executive at Chinese real estate conglomerate Vanke Co., Ltd., URWork’s annual revenue is at around RMB 400 million ($58.5 million), of which 75% comes from office space rental.

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Rita Liao

Telling the uncommon China stories through tech. I can be reached at ritacyliao [at] gmail [dot] com.