Coworking space The Hub Singapore bags $1.1m Series A funding: Report

Visual of The Hub Singapore website

The Hub Singapore, a Singapore-based coworking space which launched in 2012, has raised S$1.5 million ($1.1 million) in a Series A round from an anonymous angel investors,a report said.

According to Tech in Asia report, funds from this investment are specific only to The Hub Singapore and not other spaces in the Impact Hub network, which are all run as independent entities.

Commenting on the investor, Grace Sai, CEO of The Hub Singapore, said, “He wants to unite the region. He wants to do something that brings Southeast Asia together. So he thinks we’re the pioneer of ecosystem building in this way in Singapore. And in the years to come we can unite the region through entrepreneurship.”

This is part of a trend by venture capitalists and angel investors to diversify their investment portfolio, as well as capitalising on good business opportunities that present themselves .

According to the report, Sai sees the funding as a validation of her strategy, which involved pioneering a startup-focused coworking space in Singapore and establishing its legitimacy. Profitable seven months after launching and with over 500 paying members, sponsorship is a major revenue source, alongside memberships.

Funds from the latest investment be used to enhance service offerings, the development of a new coworking space venue at 128 Princep Street and the inclusion of corporate services that can attract and facilitate the operations of more mature ventures.

Sai also has ambitions to assists startup ventures that have hit a growth ceiling, acting as a broker between these ventures and larger entities like government agencies and multinational corporations.

Hub Singapore has partnerships with government, corporations, and startups, making it a great meeting ground for collaboration.

The report further quotes Sai as saying: “Everyone speaks a different language. Most people don’t know who exists on each side and who has intentions to collaborate. They have different cultures, pace, and rhythm, the bureaucracy or the lack of it. We speak both languages. We’ve scored more corporate partnerships than most intermediaries.”

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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.