UCommune and TechNode will complement each other by forming an O2O technology ecosystem to connect China and the international community

TechNode, an online technology and entrepreneurship news platform in China, has closed pre-Series B funding round of “tens of millions of RMB”.

Leading co-working operator UCommune and investment firm XCGT Holding Group participated in the round.

With this funding, TechNode aims to increase its global outreach with international technology innovation as its core strategy, as well as accelerate the expansion of its international influence through media, branding, and data-sourcing.

The company also aims to become an innovation platform connecting global companies with Chinese innovation.

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Started in 2007 by Lu Gang, TechNode is an online platform that provided information on China’s tech and startup ecosystems. TechNode’s media is available in four languages: English, Chinese, Spanish, and Russian. Approximately 40 per cent of its millions of monthly readers resides in 160 countries and regions worldwide.

In 2018, TechNode expanded its core offerings to include six business units — TN Media, TN Inno (corporate innovation services), TN Global, TN Events (branding and event services), TN Data (startup ecosystem database), and TN VC (venture capital and financing services). Through these initiatives, it supports and connects the startup ecosystem between China and the rest of the world.

TechNode has worked closely with many key players in various industries, including CITIC Group, Fung Group, BMW China, Merck Group, andUnilever.

Synergy with UCommune

TechNode’s services, including industry consulting, entrepreneurship training, business incubation, and venture capital financing, are consistent with the needs of the UCommune customer base, according to a press release. Through this investment, the strategic cooperation between UCommune and TechNode will be strengthened. TechNode will help enhance UCommune’s dynamic and entrepreneurial innovation environment.

For international collaboration, UCommune and TechNode will complement each other by forming an O2O (online-offline) technology ecosystem to connect China and the international community.

Mao Daqing, Founder and Chairman of UCommune, said: “The strategic partnership between UCommune and TechNode will diversify our space offerings and accelerate the interconnectedness and innovation between domestic and international entrepreneurs.”

“TechNode’s strategy has always been global. Over the years, we have built a great reputation in the global technology industry. This partnership with UCommune will be built upon an online-offline global strategy to benefit the global innovation and tech ecosystem for both parties,” said Lu Gang, Founder and CEO of TechNode.

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