Co-working company WeWork China recently raised $500 million, and now its key rival Ucommune has announced a $43.5 million Series C funding round. The company claims the deal values its business at $1.8 billion post-money valuation and will aid expansion especially into South East Asia.

To date Ucommune has raised around $450 million investment and runs 160 locations in over 35 cities, mainly in China but also New York, London, Hong Kong and Taiwan.

WeWork China has topped $1 billion investment to date, while a third player in this growing space, My Dream, raised $120 million.

Read more: