HUBBA, Thailand’s well-known co-working space has raised $350,000 in pre-series A round of funding led by 500 Startups, Ardent Capital, Golden Gate Ventures, Thai high-profile startup founders and angel investors.
Founded in 2012, HUBBA is a tech startup ecosystem builder with the aim to change Thailand into a regional startup hub. They offer a large co-working space network, tech media & events and workshop & academy. Based in Bangkok, it has its presence in more than seven locations with minority investments in co-working spaces like Punspace in Chiang Mai, TOH LAO in Vietiane and partnership agreement with Cluster Office.
With this new funds, HUBBA plans to invest in two projects – one is joint venture with Thailand’s top property developer Sansiri PCL, to construct the largest co-working space in Southeast Asia on a retail community mall known as HUBBA-TO in Soi Sukhumit 77. This pilot project is scheduled to launch in March 2016, said Amarit Charoenphan, Co-Founder and co-CEO of the startup. He said, ” Sansiri has joined hand with BTS Group and has more than 20 projects in the pipeline. If this pilot project is successful, we may have more projects together in the future.” Second one is the NODE which are automated offices to help reduce the cost of setting up offices for startups. It is claimed to be similar to the airbnb.com. Launch of the website and mobile app is expected very soon.
Further to the investment, Ruangroj ‘Krating’ Poonpol, Venture Partner at 500 Tuk Tuks will soon join the HUBBA’s board of directors.
HUBBA is expecting to raise Series A round of funding ver soon before the June next year. The co-founder said, ” The next round will help us to expand in overseas. We are happy to talk to any investors who would like to set up co-creation community or co-working space with us as well as develop the ‘findmynode’ platform to serve in other countries.”