Sequoia Capital-backed UrWork, a China-based co-working space startup, has received RMB400 million ($58 million) from Tianhong Asset Management Co. Ltd, a mutual fund unit under Alibaba’s financial services firm Ant Financial, and Junfa Group, a Chinese property developer.
Other investors include Chinese property firm Dahong Group and Tianming Shuangchuang Technology, both based in Henan province, as well as Shanghai Chuanghehui Fund, according to a report in China Money Network.
