The other new investor in this round is Beijing-based incubator First Care, according to China Money Network.
The report said that Hongfu Group would support Bigger in launching new incubator and co-working spaces in Xi’an city in Western China.
The co-working space segment in China has become increasingly competitive. China’s first co-working space unicorn UrWork announced a merger with rival New Space in April to create the largest co-working space chain in the country with a valuation of RMB9 billion ($1.3 billion).
Wujie Space, another rival, announced its decision to acquire another joint office company, Fourwork, early this year before it received RMB100 million Series A plus funding from China Equity Group in March.
Last month, Joy Capital also led a $20-million series B round in Mydream+, another Beijing-based co-working space startup.