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Coworking startup Atlas reaches HK$6.8B valuation from developer-led funding

Atlas, a coworking startup backed by Goldman Sachs Group Inc., completed a new round of financing that values it at HK$6.8 billion, Mingtiandi reported, citing Atlas.

According to the Oct. 15 report, Altas did not reveal the amount of capital raised in the latest round, which closed Oct. 12.

The funding round was led by Li Sze Lim, chairman and co-founder of Guangzhou R&F Properties Co. Ltd., along with developers Star River and Times China, the report added, citing statement from Atlas.

Atlas was founded in June 2017 by Chen Sze Long, the son of Agile Property Chairman Chen Zhuolin, the report noted.

The startup, which has launched 11 centers in major Chinese cities and Hong Kong, completed its second round of financing in January with an unspecified investment from Goldman Sachs and PAG Real Estate. It is targeting to operate more than 5 million square feet of co-working gross floor area by the end of first-half 2019.