From their work with purpose-led start-up teams, BurdaPrincipal Investments have made some observations where social purpose provides start-ups with distinctive competitive advantages.
Hubert Burda Media announced an investment in Hmlet, a Singapore-headquartered co-living operator. Burda’s growth capital arm BurdaPrincipal Investments led the US$40 Million Series B funding round with participation from existing investor Sequoia Capital India and new investors Mitsubishi Real Estate, Reinventure Group, and angels including the family office of Manik Arora.
Incorporated in 2016, Hmlet has a vision of providing flexible housing solutions for millennials who often move from city to city as they pursue new opportunities. The funds raised in Series B will continue to grow Hmlet’s presence in gateway cities – where housing is expensive – across the company’s existing markets of Singapore, Hong Kong and Sydney, Australia. Plans for launch in Melbourne, Brisbane and Tokyo, Japan are also in the pipeline.
In Singapore, Hmlet is launching its largest facility on the island to date - a 150-room property at 150 Cantonment Road - which will help to forge a sense of community that is central to all of Hmlet’s accommodations. The space’s facilities will help to create authentic and meaningful relationships among residents, including communal kitchens, a wellness studio, and an all-day, in-house cafe.
“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. We’re extremely proud of our team and we will continue to build on our commitment to give our existing and future members a home and community that supports their new way of working and living.”
Yoan Kamalski, CEO of Hmlet
“We believe Hmlet is creating a product that addresses the changing lifestyle needs of today’s young working professional, which we are seeing globally. We have been very impressed with their ability to grow quickly while working closely with building owners and landlords, and are excited to support them on their next phase of growth.”
Albert Shyy, Principal of BurdaPrincipal Investments
BurdaPrincipal Investments has significant experience investing globally in technology platforms. The company provides long term growth equity for fast growing digital technology and media companies. Current investments include Zilingo, Carsome, Notonthehighstreet.com, M.Gemi, and Vinted.
For additional information on Hmlet visit www.hmlet.com.