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Startups

Indonesian startup rides Southeast Asia's booming office-sharing market

GoWork attracts $10m Chinese investment to bolster ops amid fierce competition

Employees work at Mediatrac, a data analytics startup in Jakarta: Southeast Asia has seen a strong rebound in deals as investors adjust to the setbacks from the COVID-19 pandemic.   © Reuters

HONG KONG -- Indonesian coworking space provider GoWork announced on Oct. 10 that it has secured a Chinese investor to close its fundraising round. The fresh investment comes as office sharing gains popularity in Southeast Asia's growing tech sector. International investors, including Japan's SoftBank Group, are becoming enthusiastic about the booming industry.

GoWork's series A investment totaling 13.8 million Singapore dollars ($10 million) announced on Oct. 10 was led by Chinese venture capital firm Gobi Partners and developer Indonesian Paradise Property. The Jakarta-based startup received a $2.5 million investment last year led by Ucommune, China's largest coworking company.

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