Co-working space operators in Asia chase alliances, funding as WeWork expands

Photo: JustCo website

The co-working industry has become the hotbed of deal activity globally, reflecting its transition from a niche market to the mainstream. Asia is following suit as rivals merge with each other and startups scout for investors in a bid to strengthen their foothold in a growing market.

Globally, there have been 44 financings in co-working space startups so far this year, raising a total of $738 million, according to CB Insights. At this rate, the industry could well outpace deal volumes and funding seen in 2016.

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