CHENGDU, Aug. 7 (NBD) -- Chinese co-working space operator UrWork announced on Monday that it has raised 1.2 billion yuan (178 million U.S. dollars) in the Pre-C round from Property developer Beijing Capital Land Ltd., Beijing Xingpai Group and Beijing Aikang Group, as well as the investment company Jingrong Holdings.

UrWork is the first Chinese Unicorn enterprise engaging in the shared workspace. As of 2017, with workspaces in 25 cities around the globe, UrWork serves over 3000 enterprises and obtains a membership of over 30,000.

UrWork's announcement comes as competition in the Chinese co-working space business intensifies. Last month, the American co-working giant WeWork disclosed its big move to win the co-working market in China, announcing the launching of a standalone WeWork China business backed by 500 million U.S. dollars.

Urwork indicated that the company plans to establish 160 workspaces in 32 cities across the world to provide platform services for over 800 innovative enterprises. At that time, the office space will total 700,000 square meters.

Email: gaohan@nbd.com.cn