Startup Zen, a China-based co-working space operator backed by technology research firm International Data Group, has floated on the New Third Board exchange, China Money Network reported yesterday.
Founded in 2013, Startup Zen operates co-working spaces in Beijing, Shanghai and Shenzhen, and claims to have more than 200 teams among its tenants.
In addition to office space, startups benefit from incubation services and assistance with funding efforts. The company also offers low-interest loans to early-stage businesses through a partnership with venture debt firm Silicon Valley Bank.
Startup Zen formed a partnership with US-based peer WeWork in June this year to collaborate on a number of projects, and in August it did the same with technology startup service platform Optimatic.
The proceeds will be used by Startup Zen to expand internationally, and it has tentative plans to enter the US, Israel and Southeast Asia.
The company had previously received funding from IDG Capital Partners, International Data Group’s local VC affiliate, and fund manager China Universal Asset Management, though details of that deal have not emerged.
Wang Hao, founder of Startup Zen, said: “Different from a purely co-working space provider, we aim to turn our co-working space into a platform for offline connections, community building, marketing and other value-add services.”