Bobobox Reportedly Raising Series B Funding of IDR 128 Billion, One of Which is from Kakao Investments [UPDATED]

Technology-based accommodation startup Bobobox is reported to have raised a series B funding round. This round is valued at $8,3 million (more than IDR 128 billion).

Based on information gathered from VentureCap, a number of investors participated in the round, including Kakao Investments, Best Trade Developments Limited, Bravo Castle Limited, Emtek, and its previous investor, Alpha JWC Ventures.

Bobobox is the third startup from Indonesia to join the Kakao portfolio, after Kopi Kenangan and GoWork.

To DailySocial, Bobobox representatives confirmed the information regarding this funding. Then, Emtek representatives confirmed the existence of this investment, but also stated that the investment in Bobobox had been given by the company two years ago.

The relationship between Bobobox Co-founder Indra Gunawan and Emtek is not new. For context, Indra previously started the game startup Artoncode Indonesia in 2012. The startup was acquired by Emtek, which at that time held the BBM license, two years later.

Bobobox announced last time Series A pendanaan funding valued at $11,5 million in May 2020. Horizons Ventures and Alpha JWC Ventures were investors lead in that round.

Founded in 2018 in Bandung, Bobobox has the ambition to become a relevant lifestyle company for the younger generation by providing memorable sleep and rest experiences through technological innovation, environmentally friendly modular designs.

It is claimed that the company currently has more than 1.262 rooms, consisting of Bobocabin (elevated camping), Bobopod (capsule hotel), and Boboliving (boarding house/co-living) spread across 28 locations in Indonesia, such as Bandung, Banyumas, Bogor, Kintamani, Malang, Ubud, Toba Samosir, Uba, and Yogyakarta.

Meanwhile, the average room occupancy rate can be maintained at 90%. As many as 80% of accommodation orders are made directly (direct-transaction) via the Bobobox application.

With the concept of environmentally friendly technology, the company joins in on the trend wellness tourism which is increasingly popular this year. From research from various sources such as the Agoda Travel Trend Survey (2023) and Wellness Tourism Global Market Report 2023, the market value of wellness tourism has the potential to reach $2,1 trillion and increase at a CAGR of 12,42% in 2030.

This is supported by an increase in tourist preferences, especially among the younger generation who tend to choose wellness tourism outdoor theme. Data shows that 41% of the millennial generation have started budgeting for investment wellness experience, one of them wellness tourism The.

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*) We added additional statements from Emtek and Bobobox