The funds will primarily be used to open a new outlet in the city of Subang Jaya in October this year. Located at UOA Business Park, this 22,000-sq ft space will be able to house 79 private offices.
Additionally, WORQ will be expanding to more locations within the Klang Valley.
WORQ aims to build ecosystems that bridge the gap between traditional and digital — from early-stage startups to investment-ready businesses and SMEs. WORQ currently houses over 70 teams and has over 10,000 members inits extended community, including entrepreneurs, professionals, freelancers, corporate and government partners, VC funds and investors-in-residence, media partners, and a regional and global network.
“Do note that we are a hyper-localised community space and what that means is that, we build local communities everywhere. If you need to plug into the local community of an area, you come to us and each hyperlocal community is unique and has its own culture and flavour,” WORQ Co-founder and CEO Stephanie Ping told e27.
The company has earlier received funding from the likes of Cradle Fund, an agency under the Malaysian Ministry of Finance; SMG, an investment holding company co-founded by the founding partner of Jungle Ventures; 500 Startups through its subsidiary 500 Durians; and a few private individuals.
As per a press note, WORQ is also officiated as a Digital Hub. As a Digital Hub, companies that have specific tiers of MSC status may qualify for benefits such as tax incentives and ability to hire foreign talent, among other things.