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


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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