CoHive (formerly EV Hive) operates co-working spaces and events in Indonesia and has rebranded to broaden its offerings. The company is adding CoLiving and CoRetail verticals, responding to member demand for housing near workplaces and more flexible retail options. CoHive opened its first CoLiving property in a joint development with Keppel at Tower Crest West Vista in West Jakarta (64 rooms across 2,800 sqm) and reports the first phase is 90% occupied. On the retail side it plans pop-ups, Instagram “box shops” and permanent space, with six large tenants already planning to use CoRetail. The firm claims roughly 9,000 members from about 800 paying companies. CoHive has paused international expansion to focus on Indonesia and plans to expand into tier-two cities, currently designing several new buildings. The company began as a project for seed-stage VC East Ventures and is described in the article as a four-year-old startup. EV Hive operates a network of co-working spaces in Indonesia, offering large-format locations (typically over 7,000 square meters) and a member marketplace that connects and monetizes services among members. The company supplements member-offered services by providing its own offerings such as accounting, branding and marketing to broaden revenue streams. As of the article it ran 21 locations with eight more in development and served over 3,000 members. Management plans to expand beyond Jakarta and Medan across Indonesia, adding 20 more locations next year and targeting 100 spaces by 2022. The firm says it is fielding overseas expansion requests but will focus on Indonesia first, with later moves planned into Thailand and Vietnam. EV Hive emphasizes rapid, low-cost execution and large floor plates as competitive advantages in a crowded regional co-working market. It raised $20M in a Series A to fund this expansion.

Total raised

$34M

Funding rounds

2

Latest round

Series B

Latest activity

Jun 2019