Hmlet raises US$6.5 mil in Series A funding led by Sequoia India

/ EdgeProp Singapore
November 12, 2018 4:16 PM SGT
Singapore-based co-living group Hmlet has raised a US$6.5 million Series A funding round, led by venture capital firm Sequoia Capital (India). The Series A funding will be used to scale the business model throughout Asia and expand services and experiences for its members.
“The funding builds on a great year for Hmlet and will enable us to continue to extend and grow our community,” says Hmlet CEO and co-founder, Yoan Kamalski.
In July this year, Hmlet acquired Hong Kong-based co-living competitor, “we r urban”, adding more rooms and members to its portfolio. Last year, the company closed a US$1.5 million seed financing led by Aurum Investments.
Abheek Anand, managing director, Sequoia Capital (India) Singapore, says: “Hmlet’s centralised supply model, of taking over full buildings compared to standalone units across many buildings, is particularly compelling because it brings a true sense of community along with economies of scale.”