Briefing: Ucommune completes $200 million funding round

1 min read

Ucommune Raises USD200 mn D-round Funding from Major Investors – Business Insider

What happened: Chinese co-working space operator Ucommune has completed a $200 million funding round led by All-Stars Investment Limited, coming just three months after its last round. The company says the latest investment will be used to expand its global footprint, strengthen its research and development capabilities, and advance its IoT smart office technology.

Why it’s important: Ucommune has been expanding rapidly over the past year. In October it completed its seventh acquisition of the year, following successful purchases of a series of smaller competitors including Wedo, Woo Space, New Space, and Workingdom. The company now boasts 100,000 workstations in 200 co-working spaces, clocking up 800,000 working hours per day. It plans to expand its operations to include 350 offices containing 200,000 workstations in the next three years.