Malaysia: Co-working space operator WORQ raises $2.5m for expansion

Photo: worqcoworking.peatix.com

Malaysian co-working space operator WORQ has raised RM10 million ($2.48 million) in a crowdfunding round that included new investors Bangsawan Consulting and Phillip Capital, it said in an announcement.

This is the second funding round raised by the co-working space operator. Last year, it had secured RM3.5 million ($786,782) in funding from Malaysia’s Cradle Fund; SMG, an investment holding company co-founded by Jungle Ventures founding partner Anurag Srivastava; 500 Startups through its subsidiary 500 Durians; and other private investors.

WORQ said it plans to launch its second outlet in Subang Jaya in October this year. The co-working space will be located at UOA Business Park and will be able to house 79 private offices within it. The startup said it plans to expand to more locations within the Klang Valley next.

Since opening in March last year at Glo Damansara, WORQ now houses over 70 teams and boasts more than 10,000 members in its extended community.

WORQ said it is now officially designated a Digital Hub and therefore, eligible member companies may get additional benefits such as tax incentives and the ability to hire foreign talent, among other things.

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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.

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.