Indonesian capsule hotel startup Bobobox snags pre-Series A from Alpha JWC, others

Indonesian accommodation startup Bobobox has secured an undisclosed amount in pre-Series A funding to accelerate its expansion across the country, its CEO said.

The round was backed by existing investors Alpha JWC and Japan’s Genesia Ventures, and three undisclosed new backers.

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.

Also Read:

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Indonesian budget hotel Tinggal raises $1m funding from India-based Wudstay’s CEO, Mangrove Capital, others

Indonesian unicorn Traveloka expands beyond SE Asia, lands in Australia

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.