EV Hive has rebranded to COCOWORK in a bid to reach a wider audience. Through the rebrand, the company aims to communicate its mission to provide flexible working spaces and also create a nurturing community. This is targeted at individuals and companies looking to start and grow their businesses across Indonesia and the region.
The name is derived from the words community, collaboration and workspace, which reflects its commitment to its core premise as a co-working space, the statement added. Carlson Lau, CEO and co-founder of COCOWORK, is of the view that the new face and identity will help empower the company to reach a wider audience.
"Our company has its roots in the startup industry, but we believe that the co-working concept is relevant and beneficial to many other types of businesses in Indonesia. Furthermore, I am also excited to announce our commitment to provide the same excellent service to a wider audience in Indonesia and Southeast Asia," he explained.
To further highlight its commitment in supporting the growth of the economy and business in Indonesia, COCOWORK has also partnered with the Jakarta Provincial Government through the inception of JSC Hive by COCOWORK and the Gue Startup Jakarta Community.
“With the rebranding of EV Hive to COCOWORK, we hope that many more Jakartans will use these spaces to build communities and to initiate collaborations. The presence of a co-working space is a great start, but a focus in building communities will ensure there are more ideas and solutions that will be beneficial for Jakarta,” Setiaji, unit head of Jakarta Smart City Communication, said.
The announcement comes on the back of COCOWORK's recent investment round, which saw it garner US$20 million in funding, led by Softbank Ventures Korea, H&CK Partners and Tigris Investment, to name a few. At the time, Lau outlined plans for rapid expansion across the market. This includes the launch of two new co-working hubs at Menara Mandiri and Menara Prima in Jakarta, and rolling out new business verticals under its new brands.
Currently, COCOWORK has 21 locations in Jakarta and Medan, managing more than 30,000 metre-square of space with more than 3,000 members.