Co-working space chain operator EV Hive – an affiliate of East Ventures – has merged with Clapham Collective, a co-working space based in Medan, North Sumatra, Indonesia.
Upon the merger, Clapham Collective founder Chris Angkasa will join EV Hive’s board of advisors, the statement announced.
EV Hive had just raised $3.5 million in a pre-series A round led by Insignia Ventures Partners in September. The pre-Series A round in EV Hive was joined by Intudo Ventures, marking the new VC firm’s debut in the country, Pandu Sjahrir and a network of unnamed angel investors. Existing backers East Ventures, SMDV, and Sinarmas Land also participated in the latest round, which follows a $800,000 round announced in May.
With the merger, members of both outlets 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.
“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,” Clapham founder Chris Angkasa said in his statement.
EV Hive claims to be Indonesia’s largest co-working space operator with a network of seven locations and a pipeline of nine other locations under construction. With the new funding, EV Hive intends to accelerate its growth plans and build additional shared services such as co-living, co-warehousing and other verticals.
EV Hive’s competitor Rework raised $3 million in a pre-Series A led by ATM Capital and Convergence Ventures also in September. China’s co-work unicorn UrWork, Social Capital, Fortune Union Investments, and ACE Capital had also joined the round.
In August, US co-working giant WeWork unveiled plans to invest $500 million in Southeast Asia and South Korea. The firm also announced the acquisition of Singapore-based co-working startup SpaceMob in its latest expansion move.