Indonesian capsule hotel startup Bobobox today announced an undisclosed pre-Series A funding round by existing investors Alpha JWC Ventures, Genesia Ventures, and three undisclosed international investors.
The startup currently owns and operates a capsule hotel in Bandung’s Pasir Kaliki area. With 62 pods available to book, it claimed to have a 100 percent occupancy rate.
Bobobox plans to use the new funding to support its national expansion plan to 11 locations in Greater Jakarta, Bogor, Bali, and Jogjakarta within two years.
“We aim to be Indonesia’s biggest accommodation chain by 2020 with operations in over 200 locations. Properties are either owned by, or fully operated by Bobobox,” said Bobobox Co-Founder and Managing Partner Antonius Bong in a press statement.
In addition to national expansion, the startup is also planning for new product development in 2019, such as the introduction of single bed pods. It only offers king-size beds in its pods at the moment.
Apart from operating its own hotels, Bobobox also opened itself up for franchise opportunities.
“We are also revamping existing hotels. Unlike many hospitality SaaS [companies] that only provide branding, we help independent hotels by providing the pods, system, and even marketing. The pilot project has been successful, and we are looking forward to expanding this model,” Gunawan said.
Read Original Article
