Keppel Land has taken a strategic minority stake in Cove Living Pte Ltd., one of Southeast Asia’s fastest growing co-living companies, as the lead investor in the startup’s $4.6 million Series A funding round.
Headquartered in Singapore, Cove was founded in 2018 and is a co-living company reimagining urban rental for young people. It currently has about 300 high-quality rooms and studios in Singapore and about 250 rooms in its new market of Jakarta. By the first half of 2021, Cove expects to double its offering to around 1,000 rooms. To bring more homes to Southeast Asia’s young professionals and students, Cove plans to expand to other key markets in the region, including Vietnam and the Philippines.
Tan Swee Yiow, CEO of Keppel Land, said, “This investment is in line with Keppel’s Vision 2030 and Keppel Land’s strategy, where we seek to offer a full suite of urban living solutions that are driven by technology and which are highly complementary to our core
