Coworking space chain EV Hive merges with North Sumatra-based Clapham Collective
Following the appointment of new management team and a pre-Series A funding round, EV Hive aims to secure 100 locations across Southeast Asia
EV HIVE Management Team. Left to Right: CSO Ethan Choi, CEO Carlson Lau, and CFO Jason Lee
Southeast Asian coworking space chain EV Hive today announced the closing of a merger with Clapham Collective, a coworking space based in the city of Medan, North Sumatra, Indonesia.
Clapham Collective Founder Chris Angkasa is also set to join EV Hive’s Board of Advisors.
Following the merger, Clapham members will get access to the services and ecosystem provided by EV Hive, from network to government bodies, venture capital investors, and business partners, to events and flexible workspaces across Indonesia.
“Medan is the third largest city in Indonesia and a primary gateway to start a business in Sumatra. Through this collaboration, we will fulfill the vision of EV Hive’s founders to use coworking spaces as a platform to encourage cross-cultural exchange while strengthening business among the entrepreneurs in Jakarta and Medan,” Angkasa said in a press statement.
As a city in the vast archipelago, when it comes to a budding startup ecosystem, Medan may not be as popular as Bandung, Ubud, or Jogjakarta. But investors have begun looking into the market; in May, angel investor network ANGIN expanded its presence in the city.
Also Read: Clapping Club is the new kid on the coworking space block. Here is how it differs
In May, EV Hive announced a new management team and a US$800,000 pre-Series funding round, followed by the close of another funding that brings its total pre-Series A investment to US$3.5 million.
Starting out with four locations in Jakarta, ever since the investment and the new appointment, EV Hive claimed to have grown 1.200 per cent and achieved more than 1.300 members across 10 locations.
By Q1 2018, the company said that it aims to manage more than 34,000 square meters of collaborative workspaces across 16 locations.
It also aims to secure 100 locations across Southeast Asia.
Despite existing challenges, with led to big names such as Comma.id closing down, coworking spaces in Indonesia has begun to attract great numbers of investors.
Apart from EV Hive, Rework has also recently secured a US$3 million pre-Series A funding round co-led by ATM Capital and Convergence Ventures.
—
Image Credit: EV Hive
The post Coworking space chain EV Hive merges with North Sumatra-based Clapham Collective appeared first on e27.
