Gurgaon based TOP Technologies Private Limited that runs a coworking platform The Office Pass, has closed a seed investment round from a group of individual investors. As per the company, the funds will be deployed in enhancing the platform and hiring technology & product talent. This investment has come within 2 months of their formal launch.

There has been a rapid increase in demand for coworking spaces and companies are trying different formats to meet this demand. The Office Pass (TOP), unlike most other coworking providers, is not a real estate company; it is a technology company that is solving a real estate problem. “We aspire to connect companies & professionals with high quality office space within 5 km. Most office-goers waste precious time and money in commuting to work. If they are able to work from a high quality, yet affordable, office near-by, it will solve a big productivity problem for Indian companies.” says Aditya Verma, Founder & CEO of The Office Pass.

Finding an office is a major challenge for Micro, Small & Medium Enterprise (MSME) and freelancers due to their inability to get into a long lease and block money insecurity deposits. Many of them prefer working from home and cafes. These segments remain under the radar for most developers and owners who prefer to rent to large MNCs. The Office Pass aims to solve this problem by offering office space on flexible terms without the need for long lease or security deposits.

Arun Tadanki, former MD of Yahoo Southeast Asia & India, who led this round of investment in the company said,“The Office Pass is an exciting business model that can disrupt the commercial office leasing market. The founders have the right domain expertise and they have been focused on building a scalable, capital-light business model where users can book office space on monthly, daily or even hourly basis”

Co-founded by 3 former employees of Makaan.com, Aditya Verma, Nikhil Madan and Sachin Gaur, TOP launched their operations with first facility at Sohna Road, Gurgaon on 1st March this year. “We are pleasantly surprised by the traction and are on track to achieve full utilization of our first facility within 3 months of launch”, says Aditya Verma.

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