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Indonesian Coworking Space EV Hive Gets $3.5 Mn Pre Series A Funding

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Jakarta-based coworking space provider EV Hive has raised $3.5 Mn in Pre Series A funding. The funding round was led by Insignia Venture Partners. The round saw participation from Intudo Ventures, Pandu Sjahrir and a network of prominent angel investors.

Existing investors East Ventures, SMDV and Sinar Mas Land also participated in the round.

Talking about the investment, lead investor Yinglan Tan, Founding Managing Partner and CEO of Insignia Venture Partners said, “The EV Hive leadership and staff have proven themselves to be the only coworking space operator to rapidly replicate their success formula across multiple prime locations while still maintaining the community network and effectively improving the productivity of members. They are building a very interesting network effect of talent, founders, companies, advisors and investors.”

This investment marks Intudo Ventures’ debut investment in Indonesia. Intudo Ventures was founded by Eddy Chan and Patrick Yip, working with founding advisor Timothy Chen, in 2017. The VC firm launched a $10........

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