Indonesia-based short-term accommodation provider Bobobox has secured $11.5m in a series A round that included Kakao Investment, a corporate venturing subsidiary of internet group Kakao, DealStreetAsia reported yesterday.
Family office Horizons Ventures led the round, which also featured Alpha JWC Ventures, Sequoia Surge and Mallorca Investments. Bobobox’s co-founders told DealStreetAsia the round boosted its overall funding to $15m.
Bobobox runs a short-term accommodation service that provides pod-sized beds which can be booked through its app at a cost of as little as $10 per night. Although its business has been affected by the Covid-19 lockdown, it said its pods are being utilised by remote workers.
The startup closed a pre-series A round of undisclosed size in May 2019 having raised funding from Agaeti Ventures, Sequoia Capital’s Surge unit, Everhaus, Genesia Ventures and Alpha JWC, the latter two billed as existing investors.