Dash Living Raises Over USD 8.8m Series A Financing from New, Existing Investors to Launch in Japan, Australia, Expand Further in Southeast Asia

Grosvenor Asia Pacific, Gobi Partners, Taronga Ventures join Clearmind Capital, Mindworks in Series A round

HONG KONG SAR – Media
OutReach – 30 March 2021 – Dash Living, Asia’s pre-eminent serviced living, coliving community in Hong Kong
and Singapore, announced today it raised over USD 8.8 million for its Series A
funding round, tapping a group of new and existing investors as it looks to
expand into new regions, to develop new mobile app features to further enhance
customers’ coliving experience, and increase real estate efficiency through its
AI, automation efforts, and an extended technology development team.

 

The round was
invested by Grosvenor Asia Pacific, and joined by new investors Gobi Partners,
Taronga Ventures, existing investors Clearmind Capital and Mindworks, in
addition to a group of individual investors.

 

The funding
will help Dash Living launch its serviced rental solutions in Japan and
Australia, as well as expand further into Southeast Asia beyond Singapore,
focusing on countries and markets with a high density of hyper-mobile
millennials and where accommodation is expensive. The company also plans to use
the cash infusion to expand its asset-light management model for long stay and
software as a service (SAAS) with landlords, implement new features in its
mobile app, improve existing AI tools, broaden the access of its global premium
amenities and stimulate more user-generated content and events.

 

Founded by
established entrepreneur Aaron Lee in 2014, Dash Living has now grown to manage
and operate over 1,300 units across serviced apartments, co-living homes and
hotel rooms across Asia. It has more than 280,000 square feet under its
management. Dash Living provides more flexibility and a better living
experience to people living in or visiting expensive cities in the region.

 

“This is a
huge accomplishment for the entire Dash Living team and a big vote of
confidence from such well-known investors in the real estate and technology
space,” Lee said. “Affordable housing is a huge problem in Hong Kong and other
major cities in Asia that affects young professionals immensely. Dash Living
addresses this problem directly by using technology and the sharing economy,
while creating a lifestyle atmosphere and community around it that will open up
future growth opportunities for the space.”

 

Dash Living
offers a collection of apartments, co-living homes and hotel rooms across prime
areas of Hong Kong, including Causeway Bay, Wan Chai, Central, Tsim Sha Tsui,
Jordan and Mong Kok, as well as newly opened projects in Aberdeen and Sheung
Wan in collaboration with designer hotel group Ovolo. It also has over 600
units in multiple prime locations across Singapore.

 

“While many sectors have been hit hard over
the past year, Dash Living is focusing on an area that has been amongst the
most resilient.” said Benjamin Cha, Chief Executive at Grosvenor Asia Pacific.
“Dash is focused on solving problems with technology and the sharing economy.
We’re impressed with what the Dash team has achieved and are super excited for
their continued growth and expansion.

 

“The line
between traditional residential and experience-centric accommodation is
increasingly blurring. A rapidly emerging consumer segment seeks connected
premium amenities, with the flexibility offered in a shared economy. For
landlords to succeed in this space, location is simply not enough. It is
essential to have the right mix of technologies to understand tenant needs and
bring operational efficiencies to the landlord, balanced with a deep
appreciation of customer-first hospitality. Aaron and his team share this
vision and have demonstrated their ability to execute on it.  We are excited to support the next phase of
their Asia Pacific expansion with our real estate partners across the region,”
said Avi Naidu, Managing Partner at Taronga Ventures.

 

Dash Living provides a series of perks
to its tenants, including free access to a variety of co-working spaces, free
professional fitness center membership, a multitude of wellness, dining and
shopping options with discounts, and more. As well, Dash Living invites its tenants to attend and host events to bring the “serviced living community” to
life through yoga, fitness, and other
leisure activities.