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China's UrWork raises 300M yuan in C round funding

China's co-working company UrWork (Beijing) Venture Investment Co. Ltd. raised 300 million yuan in a series C funding round, giving it a market valuation of 9 billion yuan.

The latest funding round was led by China's Qianhai Wutong Mergers and Acquisitions Funds. Chinese investment firm CK Home and venture capital firm Context Lab also took part in this round, the Beijing-based company said in a Dec. 22 release.

Founded in 2015, UrWork has so far established 100 locations in over 30 cities in China and other countries, including the U.S. Moving forward, the company said it will penetrate second-tier cities with more innovative operational model and space utilization solutions.

As of Dec. 26, US$1 was equivalent to 6.54 yuan.