China’s largest co-working space UCOMMUNE may soon hit 9 billion valuation

China’s leading co-working space UCOMMUNE (previously known as UrWork) just received an additional RMB 110 million strategic investment from the Shenzhen-based Qianhai Wutong Mergers and Acquisitions Funds (前海梧桐并购基金) our sister site TechNode Chinese is reporting (in Chinese). Just two months ago, the startup raised RMB 300 million in a series C funding round led by the same investment firm. UCOMMUNE is expected to value at over RMB 9 billion after the new funding.

In 2017, the startup rebranded itself to UCOMMUNE to emphasize on the idea of “community” and to avoid naming disputes with WeWork. After the merger with New Space last April, UCOMMUNE became the largest co-working network in China.

Read more: Here’s how China’s 3 big co-working players are differentiating

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