Co-working space has been some kind of a trend in Indonesia recently. Among the many co-working space operator companies, CoHive is taking the lead. The startup has the most number of space and members in the country.
Previously known as EV Hive and CocoWork, the company started as a project from East Ventures. Jason Lee officially started the company back in 2015. And it has grown incredibly fast.
By June last year, the company only has 17 locations spread in four major cities in Indonesia. Including Jakarta, Medan, Jogjakarta and Bali. With the total area of 30,300 square meters, 3,100 members were using the space.
Currently, the company owns 31 co-working space locations. In the total of 65,000 square meters area, 9,000 individuals and 8,000 startups are renting the space monthly.
CoHive 2019 plan, more locations, more products, more cities
This year the CoHive plans on expanding the co-working spaces to other cities. For it, the company has secured $13.5 million from its Series B funding round, led by Stonebridge Ventures. Lee stated that the company will be closing the funding round at $20 million by the end of the year.
Around that time, Lee estimated that his company will have 40 locations of co-working spaces. Now it is developing the locations in Jakarta, Surabaya, Bandung and Makassar.
Apart from co-working spaces, CoHive also launches three new products this year. The first one, CoLiving, is a combination of co-working and co-living space. It opened its first location at Tower Crest West Vista, West Jakarta.
Secondly, it launched CoRetail. The products allows retail business in startup communities such as CoHive. Available at the ground floor of CoHive 101 building, many tenants have presented on that floor. Including Go-Food Festival, Fore Coffee, Pepenero Bakery and Bukalapak.
Thirdly, CoHive Event Space that meant to help the company’s members and business partners to host meetings and company events.
