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Chinese startup wins VC backing by finding daytime guests for hotels

SpaceBox so far raises 50 million yuan to give hip makeovers to stuffy old inns

SpaceBox renovates hotel rooms so they can be used for purposes other than sleeping. (Photo courtesy of SpaceBox)

BEIJING -- A Chinese startup that helps hotel owners attract young people is expected to accelerate its growth now that it has raised a total of 50 million yuan ($7.08 million) in venture capital.

Founded in April 2017, SpaceBox renovates privately operated hotels, then markets rooms to young people who are looking for space they can rent on an hourly basis to study, play video games on a big-screen TV or chill out with friends.

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