Indonesian accommodation startup Bobobox has secured an undisclosed amount in pre-Series A funding to accelerate its expansion across the country, its CEO said.
Based in Bandung, West Java, Bobobox offers travellers compact spaces it calls ‘pods’ at an affordable price. The company currently has one flagship hotel in Bandung, containing 62 pods.
In an exclusive interaction with DEALSTREETASIA, Bobobox CEO Indra Gunawan said the fresh capital will be used to expand its operations by opening up more flagship hotels in new cities.
At the moment, the company is setting up an additional 70 pods with several locations in the pipelines in cities like Jakarta, Jogja, Medan, and Bandung. By the end of 2019, Gunawan said the startup is targeting to have as many as 1,000 pods across different cities.
Over the past year, the company claims to have maintained an average occupancy rate of above 80 per cent and booked more than 8,000 stays. For the first two months of 2019, the Bobobox claimed an occupancy rate of 86 per cent and 90 per cent respectively.
Bobobox describes itself as a trusted accommodation service for smart travellers and millennial adventurers. It leverages technology in multiple ways, including in its booking and check-ins/outs as well as to control the facilities in its pods.
According to Gunawan, the company, which currently only offers king-size beds in its pods, will look to enhance its flexibility by setting up single bed pods this year. It also looks to include more in-app features to better facilitate its guests.
“In 2019, we will be the fastest growing pods in Indonesia not only as accommodation services but also as public facilities for people to rest, sleep and live. There will be several more interesting business models and strategic partnerships,” Gunawan said.
Founded in 2017, Bobobox raised an undisclosed seed round in April 2018. The company rides on the rising popularity of capsule stay accommodations in Indonesia due to their low cost.