Co-working space startup UrWork received USD 178 M for pre-Series C
Founder: Mao Daqing
Founded in: 2015
Financing status: RMB 1.2 billion (USD 178 million) for pre-Series C financing in 2017
Co-working space startup, UrWork, received USD 178 M for pre-Series C on August 7 to expand globally.
There are an increasing number of people starting their own business in China. Many of these startups prefer to focus on their products and services, and acquire other companies to meet their work space demands. Providing these micro-enterprises with high-quality work spaces and enterprise-related services are trending in China because they allow micro-enterprises to focus on boosting their business. These related services include security and financial support and front desk consulting, among others.
UrWork is a co-working space startup that offers one-stop co-working space service solutions for startups–large and small–as well as individuals. It mainly establishes economy working spaces in city centers to solicit investment, providing customers with integrated multi-functional services and modern office facilities. It is not only a co-working space, but also combines its shared working space services with human resources, business advice, media transmission, medical, sports, travel, financial services, and more.
Founded in 2015 in Beijing, UrWork’s services cover 25 cities worldwide with 88 shared working spaces in Beijing, Shanghai, Singapore, New York, London, and more. It offers services to over 3000 enterprises and over 30,000 individual members.
This new financing round came from a group of investors, including Beijing Capital Land Ltd., Beijing Xingpai Group, and Aikang Group. The capital will be used to launch new working spaces in new cities. UrWork aims to set up 160 working spaces in 32 cities in the next three years, and invest in global expansion for more customers.
Cloud computing solutions provider T2Cloud received USD 14 M for Series B
Founder: Wu Kai
Founded in: 2015
Financing status: RMB 100 million (USD 14 million) for Series B financing in 2017
Cloud computing solutions provider, T2Cloud, received USD 14 M for Series B on August 7 to expand its business to the financial industry.
T2Cloud is a cloud computing solutions provider that provides corporate customers with private cloud, mixed cloud, and industrial cloud solutions. Currently, the products available to its customers include an open source platform, T2Cloud OS; an automatic operation and maintenance tool, MaigsStack; and some cloud security-related solutions.
Founded in 2015 in Beijing, it currently has more than 10 thousand virtual hosts working simultaneous to support its customers’ businesses. Its customers are mainly in the transportation, finance, energy, military, radio, and television industry, as well as government, and some Internet of Things developers.
T2Cloud previously raised funding from F&G Venture, Lenovo Capital and Incubator Group, and Phoenix Tree Capital. This Series B financing round was from an undisclosed group of investors. T2Cloud plans to use the funds to invest in research and development to expand its business to the financial industry and run market expansion plans.
（Top photo from 58pic.com）