Indonesia-based coworking space chain EV Hive today announced that it has rebranded to COCOWORK.
In a press statement, the company explained that the new name derived from the words “community, collaboration, and workspace” which reflects “its commitment to its core premise as a coworking space.”
“We believe that this new face and identity will empower us to reach a wider audience. Our company has its roots in the startup industry, but we believe that the coworking concept is relevant and beneficial to many other types of businesses in Indonesia. Furthermore, I am also excited to announce our commitment to provide the same excellent service to a wider audience in Indonesia and Southeast Asia,” said COCOWORK CEO and Co-Founder Carlson Lau.
Together with the rebranding news, the company also announced its partnership with the Jakarta Provincial Government in the inception of coworking space JSC Hive by COCOWORK and the Gue Startup Jakarta Community (GSJ).
COCOWORK currently operates 21 coworking spaces in Jakarta and Medan; it claimed to manage more than 30,000 meter square of space with more than 3,000 members.
The company first mentioned plans for this rebrand in its latest funding announcement in early June, when it raised US$20 million in a Series A funding round led by Softbank Ventures Korea.
In addition to a rebrand, COCOWORK has also cited plans to launch new verticals in the residential, retail, and storage storage sectors.
It also aimed to expand regionally by launching 100 locations throughout Southeast Asia by 2022, including Vietnam, the Philippines, and Thailand.