Erik Crouch · · 1 min readChinese tech news site’s startup incubator gets series A funding
A peek at one of KR Space’s workspaces.
The venture, dubbed KR Space, is active in eight cities in China, including Beijing, Shanghai, and Shenzhen.
KR Space originally launched in 2014 in Beijing as the incubator arm of 36kr. Since then, the incubator has taken in more than 100 startups with a total valuation of RMB 10.5 billion (US$1.6 billion).
KR Space is headed by co-founder and CEO David Cai, who was formerly a VP at Chinese ecommerce juggernaut JD. The lead investor in the series A was Los Angeles-based Colony Capital. Other investors include Unity VC, Gobi Partners, and Feng Ren, an independent real estate mogul.
US$150 million is no small sum for a startup incubator – but that’s what you get when you’re a spin-off of a tech website that has been on the radar of startups and venture capital groups for years.
Correction: this post originally described the series A round as worth RMB 1 billion – that is the total valuation, not the round.
Editing by Steven Millward
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