The day after Chinese co-working space operator UCommune raised $200 million in finance, I had the opportunity to sit down with founder Dr. Daqing Mao at a Silicon Dragon event in Hong Kong. There, I heard about how his emerging Beijing-based business is relying on smart technologies and its Chinese origins to compete against its main rival WeWork in the crowded co-working market in China.

I also got to learn more about UCommune’s plans for expansion outside China into Hong Kong, Singapore, Bangkok, Jakarta and Taipei as well as Los Angeles and Seattle, building out its U.S. launch location last spring on Wall Street. The ample financing of some $650 million it’s raised over the past three-and-a-half years should help it move toward this goal.

During our so-called tech chat, Dr. Mao outlined UCommune’s footprint – 110,000 workstations in 223 co-working spaces in 37 cities, each location with its own style, differing from the WeWork uniform look.  He also emphasized that UCommune is evolving as a platform built on technology advancements such as a mobile app and tables with IoT functions, not just a space with hot desks, free coffee and frequent community events.

Watch this Silicon Dragon video if you want to learn more about what UCommune is up to with its new capital from Hong Kong-based All Stars Investment and Chinese investment bank CEC Capital.

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Originally Published on November 18, 2018 at 03:22PM

Article published originally via wework – Google News https://www.forbes.com/sites/rebeccafannin/2018/11/18/chinas-co-working-king-ucommune-leverages-tech-to-get-ahead/