AAA Bobobox locks up series A funding

Bobobox locks up series A funding

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.

By Robert Lavine

Robert Lavine is special features editor for Global Venturing.

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