Kr Space, a Beijing, China-based benchmark co-working space company, raised 600m CNY in series plus A funding.
The round was co-led by China Minsheng Investment Management and IDG Capital.
The company will use the funds to accelerate the portfolio expansion with a commitment of 300,000 sqm by the end of 2018.
Led by President David Zhong, Kr Space is a benchmark co-working space company which enables rent cuts, work space flexibility raise, networking opportunities creation, rent lowering and value-added services which allow startups and small and medium businesses to work in premium office buildings in CBD areas.
The company took up nearly 120,000 sqm of office space in China’s first-tier cities during the past 3 months. It secured 14 sites in different office buildings in the core areas of Beijing and Shanghai, for example, Beijing Financial Street, Beijing Wangfujing, and Shanghai Lujiazui – Century Link Tower.
In January 2016, Kr Space started to run independently from China’s media and entertainment company 36Kr, raised a series A round founded by Colony New Yangtze Fund, followed by China’s famous entrepreneur Fenglun, Unity Ventures and Gobi Partners. The same year, the company raised 200 million CNY series plus A round co-led by IDG Capital and Prometheus Capital.