Singapore based co-living tech startup Hmlet raises US$1.5mil in seed funding
By Digital News Asia November 15, 2017
- Runs co-living spaces where young working professionals can rent rooms and apartments
- Hmlet properties are fully furnished and provide on-demand services
HMLET, Singapore’s first tech co-living space announced that the company has raised a seed funding of US$1.5 million (RM6.28 million) led by Aurum Investments.
With this round of fundraising, Hmlet plans to expand to Hong Kong and Osaka while expanding their portfolio in Singapore and Tokyo.
The round is supported by several angel investors including Huang Shao-Ning, co-founder of JobsCentral Group and partner at Entrepreneur First.
Incorporated in 2016, Hmlet runs co-living spaces where young working professionals can rent rooms and apartments at an affordable price on a month-by-month basis with a minimum commitment of three months.
Hmlet recently inaugurated its new building spread across 7,000 sqft in East Coast at 339 Joo Chiat road (pic, below).
Since its opening six weeks ago, the building already has 95% occupancy. With co-living spaces across Singapore and Tokyo, Hmlet has over 170 members and has made a revenue of over a million last year.
Hmlet is the only organised, tech-powered provider of space as a service model and is using changes in technology, demography and urbanisation to collectively drive a shift towards a more flexible, entrepreneurial and collaborative living style.
Hmlet properties are fully furnished and provide on-demand services ensuring budget-friendly, comfortable living. Renting rooms with Hmlet doesn’t require long-term contracts and members have the option of moving between Hmlet spaces across countries as well.
Hmlet CEO and co-founder Yoan Kamalski said, “We wanted to create co-living spaces that are responsive to the flexibility needs and stylistic preferences of today’s mobile, millennial workforce. Using technology and design, we transform properties into dynamic environments to empower the Hmlet community.”
Along with designing these co-living spaces, Hmlet uses technology to integrate personality matching tests within the on-boarding process to ensure compatibility between members sharing the co-living space.
Zenos Schmickrath, co-founder and MD heading technology, said “We are a community company. We use tech to empower people to create real and meaningful relationships. We have integrated tech into our day to day operations, bringing efficiency while connecting people with similar mind-sets together.”
Hmlet is one of the first investments made by Aurum Investments, a sister company of collaborative innovation workspace Collision 8.
Aurum Investments is a Singapore-based venture fund and subsidiary of Woh Hup Holdings Pte Ltd.
Michelle Yong, director of Aurum and co-founder of Collision 8 said,”Hmlet is revolutionising living spaces and we are excited to be a part of their journey. Hmlet is in sync with Aurum’s vision to create a world of opportunities across diverse industries through our network of communities to facilitate growth for our members and partners.“