<article>Fresh off of announcing a $43-million funding round that raises its valuation to $1.8 billion, Chinese co-working space operator Ucommune said it plans to raise another $200 million in funding this year.</article>

Fresh off of announcing a $43-million funding round that raises its valuation to $1.8 billion, Chinese co-working space operator Ucommune said it plans to raise another $200 million in funding this year.
The next fundraising round, which would mark a Series D for the unicorn, would also pave the way for an IPO early next year, Ucommune founder Mao Daqing said during an interview in Singapore. The co-working space operator has held informal conversations with exchanges in Hong Kong, the US and Singapore.
Proceeds from the planned Series D round of financing will be used to expand into new Southeast Asian markets such as Bangkok and Hanoi, and open new locations in existing markets Hong Kong and Singapore.
Mao also revealed plans to acquire two Chinese public relations and advertising firms this year to broaden its array of services. This is on top of four recent acquisitions, including the $45-million purchase of local competitor Workingdom.
&#8220;We want to be more than a company that provides a place to work. When customers enter our premises, they form partnerships, network, and do business. This is more than just entering an office. They&#8217;re entering a marketplace,&#8221; said Mao. 
Ucommune is fighting off formidable competition on its home turf. WeWork China unit recently raised $1 billion in debt from backer SoftBank after closing a $500-million Series B round in July. Another co-working space operator in China, MyDreamPlus, on Monday announced that it had raised $120 million in a Hillhouse Capital-led round. 

&#8220;We are the largest in China, but they (WeWork) are the largest in the world,&#8221; said Mao. &#8220;We welcome competition. Having international players like WeWork will lift market standards and help everyone.&#8221;
Although the US is not a key market for Ucommune, Mao said that the company is eyeing two new spaces in San Francisco. Ucommune is currently present in New York.
In the next three years, Ucommune intends to nearly double its locations to 260 across 40 cities globally. Its institutional investors include Sequoia Capital, ZhenFund, Noah Wealth Management and Sinovation Ventures.

The co-working space operator just announced a $43-million funding round that raises its valuation to $1.8 billion.

China's co-working major Ucommune seeks $200m in fresh funding, eyes 2019 IPO

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China's co-working major Ucommune seeks $200m in fresh funding, eyes 2019 IPO

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