With over 70 teams and 10,000 members in the community currently, WORQ is opening a new outlet in Subang Jaya in October

Kuala Lumpur-based co-working spaces provider WORQ has secured RM10 million (US$2.5 million) in a crowdfunding round from Bangsawan Consulting and Philip Capital.

The funds will primarily be used to open a new outlet in the city of Subang Jaya in October this year. Located at UOA Business Park, this 22,000-sq ft space will be able to house 79 private offices.

Additionally, WORQ will be expanding to more locations within the Klang Valley.

WORQ aims to build ecosystems that bridge the gap between traditional and digital — from early-stage startups to investment-ready businesses and SMEs. WORQ currently houses over 70 teams and has over 10,000 members in their extended community, including 5,000 entrepreneurs, professionals and freelancers; corporate and government partners; 10 VC funds and investors-in-residence; media partners; and a regional and global network.

Also Read: ‘Fear of risk-taking is slowly being diluted by the new generation in Malaysia’

The company has earlier received funding from the likes of Cradle Fund, an agency under the Malaysian Ministry of Finance; SMG, an investment holding company co-founded by the founding partner of Jungle Ventures; 500 Startups through its subsidiary 500 Durians; and a few private individuals.

As per a press note, WORQ is also officiated as a Digital Hub. As a Digital Hub, companies that have specific tiers of MSC status may qualify for benefits such as tax incentives and ability to hire foreign talent, among other things.

The post WORQ raises US$2.5M to open co-working spaces in new locations in Malaysia appeared first on e27.