Greenhouse, a co-working space in Jakarta, announced that it has raised SGD 3.8 million (USD 2.8 million) in its latest bridge funding. The fresh capital brings the company’s total investment into SGD 5.5 million (almost USD 4 million).
The funding was led by 14 angel investors including Dilip and Deepak Chugani of KNS Group, an Indonesia-based conglomerate.
Greenhouse is a co-working space, but also a “market-entry enabler” that offers business support networks for SMEs, startups, and freelancers. The support it offers is based on the belief that any business if it wants to be sustainable, needs to pay attention to environmental sustainability and promote positive social impact.
Greenhouse will use the fresh funding to expand its capabilities in helping foreign companies enter, and local companies scale, within fast-growth markets like Indonesia, the Philippines, and the rest of Southeast Asia, according to a press release.
In the second quarter of 2019, the company will launch Greenhouse Connect, a platform that offers basic registration services for companies looking to launch in Indonesia. Moreover, it will expand to six B2B services across several markets including the Philippines, Singapore, Vietnam, Thailand, and India, by the end of the year.
Greenhouse also provides businesses with fully-serviced co-working spaces in select markets. Its first co-working space was launched in Jakarta in 2018 and the company will open its second co-working space network in Manila this year, and across a few other strategic markets in SEA, next year.