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Collaborative Space startup Campfire nabs $18 million Series A funding

Campfire co-founders (from Left-Right) Albert Fung, Brian Fung and Wang Tse
Campfire

Hong Kong based work-space startup Campfire which provides collaborative and industry focused spaces ranging from the services of Co-working, Co-living and Co-learning has now raised $18 million in Series A funding from several investors with 3 firms co-leading the round along with notable Paris based Ring Capital also participating in this round.

With Campfire being one of Asia's fastest growing shared spaces network, Campfire is earmarked to boost its network shared spaces in several locations with this investment for Campfire which currently counts few locations in its home-base region of Hong Kong.

Campfire previously raised $6 million this in its first seed round March this year from an undisclosed investor which now counts a total investment of $24 million for 2 year old Campfire.

With Hong Kong being a major and pricey real estate market, Most of the offices in the region are already occupied with the new ones going for hefty prices which might be a burden to growing startups which is why Campfire is providing services to solve this problem as they provide collaborative, intuitive and design centrist shared work-spaces to these startups.






Campfire

The shared workspace startup being a rapidly growing one has seen  a lot of traction in recent times with several starups popping up in different regions along with the very notable WeWork valued at $20 Billion having raised about $7.9 Billion in equity funding and also Kr Space which currently stands as one of China's largest co-working space startups after having raised over $300 million at a current $1.3 Billion since its start just two years ago.

Other notable startups in the coworking environment include WeWork major U.S. competitor Knotel, Betaworks, Mindspace, Spacious, EV Hive and $1.7 Billion Chinese startup Ucommune which has notably also raised over $400 million across six funding rounds.

As investors put in huge funding into global coworking startups, We would now get to see how Campfire will play out in this very innovative and competitive market as the company expands its coworking services and locations.

Another notable and relevant information which represents a big up for the co-working industry is the report of WeWork which currently stands as the world's largest coworking startup whilst being valued at a current $20 Billion aiming to close a new round of funding which would value the company between $35-40 Billion.








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