China-based co-working space provider UrWork has closed a RMB300m ($46m) pre-series B round featuring commercial real estate developer Yintai Land, China Money Network reported today.
The round also attracted investment firm Zhongrong International Trust. Both Yintai Land and Zhongrong have contributed as strategic investors and will reportedly offer resources to UrWork, though details have not been revealed.
UrWork operates co-working spaces for entrepreneurs but also provides additional offerings such as legal and accounting services, marketing, cloud computing, healthcare and introductions to potential investors. It expects to open 36 spaces across 16 cities in China.
The company previously raised $31m in a March 2016 series A+ round backed by private equity firm Gopher Asset Management and an undisclosed investment firm.
UrWork also secured $31m in a September 2015 series A round co-led by Gopher and CIC Hanfor, after Sequoia Capital and Zhen Fund had already supplied an undisclosed amount of seed capital.