EV Hive, a Jakarta, Indonesia-based co-working and community operator, raised US$20m in Series A funding.
The round was led by Softbank Ventures Korea, H&CK Partners and Tigris Investment, with participation from new investors Naver, LINE Ventures and STIC Investments as well as existing investors East Ventures, SMDV, Sinar Mas Land, Insignia Venture Partners, Intudo Ventures and private tech-focused angel investor Michael Widjaya and Chris Angkasa.
The company intends to use the funds to expand to 100 locations across Southeast Asia.
Led by CEO and co-founder Carlson Lau, EV Hive currently manages more than 30,000 square meters of workspace in 21 locations across Indonesia, with eight additional locations under construction. Besides opening collaborative workspaces, the company also offers a broad suite of supporting services and a community network to support its members in starting and growing their business.