Sharing economy

Chinese co-working firm Kr Space gets new fire power

Kr Space, which has had to endure job cuts and a shortage of capital, has completed a new Rmb1 billion round of funding.

Kr Space, a co-working space that spun off from technology media platform 36kr.com, said on Wednesday that it had raised Rmb1 billion $145 million.

The funding for the largest co-working space company in China was led by IDG Capital, Gopher Asset Management and Yixing Capital. Kr Space completed its $387 million Series B funding in June last year from Gopher, IDG, China Minsheng Investment Group, Prometheus Capital and others.

The fundraising comes in a crucial time. After overly rapid expansion, Kr Space has been mired in negative publicity since the end of last year. It is also involved in a lawsuit with Hong...

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