Coworking startup Greenhouse secures US$2.6M funding
Greenhouse, coworking and market entry platform based in Jakarta, announced that it has raised S$3.8 million (US$2.6 million) in bridge financing, as reported by The Business Times.
Drew Calin, chief executive and co-founder of Greenhouse, noted that a total of 14 investors chipped into this round, with seven of them being new investors.
“Many of these investors were also in the seed round, including Dilip and Deepak Chugani of Indonesia-based conglomerate KNS Group, and two of our founders and our lead investors,” Calin said.
Furthermore, Greenhouse said that it plans to use the funding to grow its capabilities in helping companies enter and scale up in Southeast Asia.
Part of the funds will also be directed into expanding the co-working arm it has to Manila, Philippines, as well as across Jakarta, Indonesia. Next year, it plans to go to other regional markets as well.
“We’re currently negotiating on five new spaces across Indonesia and the Philippines, and are also exploring options in Singapore,” Vicknesh Pillay, co-founder of Greenhouse, said in a press statement on Monday.
In 2017, the company’s seed round of funding closed at S$1.7 million (US$1.3 million).