Hmlet, a co-living space based in Singapore, has raised US$40 million in a Series B round led by Burda Principal Investments.
Existing investor Sequoia India and new investors Mitsubishi Estate Co, Reinventure Group, and angel investors also participated in the round.
The company intends to use the funds to grow its presence in existing markets in Singapore, Hong Kong, and Sydney, and has plans to launch in Melbourne, Brisbane, and Tokyo.
The firm is launching a 150-room property at 150 Cantonment Road – its largest facility in Singapore.
Hmlet residents at Cantonment Road will have access to communal kitchens, a wellness studio, and an all-day, in-house cafe.
CEO of Hmlet, Yoan Kamalski said, “When we launched Hmlet, we wanted to create a better way of living for an increasingly mobile workforce, who want a sense of home and community in whichever country they choose to live in.”
“We’ve seen our philosophy and operational model resonate with the market, which has allowed us to secure our Series B funding less than 12 months after our Series A round.”
Founded in 2016, Hmlet now manages over 1,500 rooms and is “looking to build a network that spans across 10 cities in five countries within the next two years”.
Burda Principal Investments is the growth capital arm of Hubert Burda Media that’s headquartered in Germany.
It opened its Singapore office in 2017 and raised a Series A funding round last year led by Sequoia India.
Hmlet, alongside Zilingo and Carsome, are among the Series B stage companies in the region invested by Burda Principal Investments.
Featured Image Credit: Hmlet