Hostel startup Tribe Theory secures seed funding from Aurum

By Prosyscom
In March 14, 2019

Tribe Theory, a hostel startup from Singapore, announced today that it has raised a total of S$1 million (US$739,165) seed funding from Superangel, Aurum Investments, and REAPRA. The company has just launched its physical hostels in Bali and Yangon.

The company said that the fresh funding will be used to expand their footprints physically, especially in targeted places like Tallinn Estonia, Kuala Lumpur, and the Philippines, launch new business offerings and hires new senior-level team member.

As for the new business offerings, Tribe Theory said that it recently launched Tribe Theory Academy. The academy offers a learning and upskilling concept, which will run its Digital Marketing and Web Development programs at Tribe Theory’s Startup Village in Bali in upcoming May.

The 80 hours-programs will be run by experts within in-person classes alongside creative assignments. People who register will get accommodation in the Startup Village and three healthy meals a day.

“We believe that our concept appeals to the next generation of entrepreneurs and startups. Not just a place to stay, people also want a place where they can meet likeminded people from around the world who are on the same entrepreneurial journey. We provide a place where people can get that, and leave the place feeling empowered as part of our global community,” said Vikram Bharati, Founder of Tribe Theory.

Tribe Theory was founded last year with the focus to bring together the startup community by providing an affordable place to stay with the specific needs of traveling entrepreneurs in mind.

With the approach, Tribe Theory’s spaces combine the communal atmosphere of a hostel with the environment of a co-working space.

The company said that in its first year, it has welcomed over 4,000 entrepreneurs from all parts of the world to its locations in Singapore, Bali, Bangalore, Hong Kong, and Yangon.

Tribe Theory Academy, the mentioned offering of the company, will be rolled out at locations around the world, with the plans to offer these courses on the most sought-after new skills, tailored for entrepreneurs, as a means of networking while upskilling.

Tribe Theory aims to be in 25 countries across the globe within the next four year. The next move, it said, would be launching initiatives for talent management and exchange, content creation, professional services, and investments and funding.

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