AAA Kr Space works its way to $15m

Kr Space works its way to $15m

Kr Space, a co-working space spinout from technology, media and entrepreneurial services provider 36Kr, has closed a funding round of more than RMB100m ($15m) supplied by IDG Capital, China Money Network reported today.

Kr Space, spun out in January 2016, operates a network of 30 co-working spaces across eight cities in China. The offices add up to a total of more than 148,000 square metres.

The money will allow the company to launch a new version of its co-working space that will specifically target internet startups. They will include some 50% more open spaces and a larger membership area, with the first such office to be built in Beijing.

Kr Space previously obtained an undisclosed sum from China Minsheng Investment in July 2017. Prometheus Capital and IDG Capital had injected RMB200m in a series B round in November 2016.

Earlier, the company closed a series A round of undisclosed size that involved Gobi Partners, Unity Ventures, Colony Capital New Yangtze Fund and other, unnamed institutional investors as well as private backers.

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