Sukhbir Singh Invested in Co-Working Office Space Startup Nukleus

Noted musician and international celebrity Sukhbir Singh has invested an undisclosed amount in the Noida based co-working and managed office space provider Nukleus (Co-play & Co-work).

Nukleus has been rapidly emerging as one of the biggest co-working company in Delhi-NCR region. With the focus to cover major Tier I & Tier II cities, Nukleus is aiming to open 10+ Co-working centres across the country. Apart from the invested made against the equity, Sukhbir Singh will also join the advisory board of the company as an active member.

Founder and CEO of Nukleus, Mr Nipun Gupta have expressed his deep interest in adding more value in theIndian Office Ecosystem, through collaborations and expansions in the coming years. Both Sukhbir and Nipun,are excited to share a similar vision of making a difference in the way people spend time at the workplace and make the future workplaces more accessible, affordable,  productive and start-up friendly.

Startup Buddy acted as the investment advisor for this strategic capital infusion. It is a one-stop solution offering end-to-end accounting, financial and advisory services using high end technology and providing customized, professional and holistic solutions.

Sukhbir Singh recently started angel investments with Gurugram based LQI followed by Amritsar Based ebikeGo, Jaipur based mEngage and Goa based Real Learning. He is evaluating more startups based out at India.

Homegrown Co-Working Firm Smartworks to Raise $35 Mn Growth Fund

Mumbai, Aug 25 (PTI) Homegrown shared office space provider Smartworks plans to raise USD 35-40 million in a mix of debt and equity to fund its plans to nearly double the portfolio to 5 million sqft by March, a top company official has said.

The three-year-old Noida-based company is also eyeing a twofold increase in revenue for the fiscal to Rs 320 crore, managing director Neetish Sarda told PTI.

"With 2.8 million sqft, we are the second largest after the multinational Wework which has around 3 million of space under it portfolio.

We now plan to increase the portfolio to 5 million sqft by the end of this fiscal year for which we will be investing close to USD 35-40 million which will be mopped as equity and debt.

"Access to funds from banks and institutions like NBFCs is easy. A lot of private equity investors are also approaching us and we are evaluating them, but we cannot disclose more that at this moment," he said.

Last year the company closed with revenue of about Rs 110 crore with a profit margin of around 10 percent.

"Our pan-India rentals on average are about Rs 10,000 a seat. We are confident of closing this fiscal with Rs 320 crore topline and profit margin of 20-30 percent," Sarda said.

The company, which is currently present in nine cities including Delhi-NCR, Mumbai, Hyderabad, Bengaluru and Pun among others, is also planning to expand into small towns.

"Our immediate focus is consolidating in these nine cities. Then we will also enter one or two small towns but that is not going to be of significant scale...we will enter with 20,000-40,000 sqft size," he said.

He said the company will continue to focus on enterprises or MNCs as they offer better margins.

It competes with Wework, Regus, Cowrks, Awfis, Oyo Workspace, Goodworks, Gowork, Skootr, Indiuube, Avanta, 91Springboard, Creator's Gurukul, Gohive, Oneculture, Plus Offices and Spring House Coworking among others.

Just yesterday, Thailand-based real estate firm MQDC announced that it is entering the Indian property market by taking on lease 22,000 sq ft from realty major DLF to start its first co-working space in the national capital region. MQDC has opened its first centre-- Whizdom Club--in Greater Kailash-II in south Delhi in a 22,000 sq ft area leased out from DLF and offers 400 seats.

Early this month, Co-working startup GoWork had raised $53 million in debt funding from US-based BlackRock and CLSA Capital Partner to expand its business. Prior to that, GoHive had raised ₹ 2.5 crore from investors to expand its operations. It currently has seven co-working centres in the national capital region.

In this month only, Co-working operator Plus Offices had announced that it is looking to raise up to USD 10 million for expansion abd has invested $2 million to set up two centres in Gurugram.

Co-Working Firm Plus Offices Invests $2 Mn to Set up Two Centres; To Raise $5-10 Mn

Co-working operator Plus Offices on Saturday said it has invested USD 2 million to set up two centres in Gurugram and is looking to raise up to USD 10 million for expansion.

Founded in 2018, Plus Offices has launched two centres in Gurugram, Haryana, which have a total of about 2,800 seats spread over 1.55 lakh sq ft area.

"We have invested around USD 2 million to set up these two centres with seed funding from angel investors," Plus Offices Chief Operating Officer Ravi Kikan said. The first centre, comprising 45,000 sq ft and 800 seats, has 80% occupancy, he added.

Kikan said the second centre has two phases, each having 55,000 sq ft area and 1,000 seating capacities. The first phase is 40% leased out. "We have launched the second phase as well focusing on customised workspace solution. A large US firm has taken up 5,500 sq ft area recently," he added.

On expansion, Kikan said the company is looking to set up more centres in tier II and tier III cities to meet rising demand for flexible space.

"We are in the process to raise USD 5-10 million fund to implement our expansion plan," he said.

Kikan said the company's aim is to be the one-stop solution for startups and SMEs, not just for their workspace requirements but also for strategic growth.

"With our seamless operations, the current revenue run rate will touch around USD 1 million by the next quarter end," he said.

Plus Offices also shares alliance with angel investors Anil Kumar and Amit Mavi for strategic real estate partnerships.

The development comes at time when similar plaayer Spring House Coworking, a chain of collaborative office spaces, has unveiled its flagship property across 30,000 sq. ft. yesterday at Grand Mall, MG Road, Gurugram. While another Coworking operator GoWork had recently raised $53 million debt funding from US-based BlackRock and CLSA Capital Partner to expand its business.

Co-working Firm GoWork Raises $53 Mn Debt Funding from BlackRock, CLSA Capital

Coworking operator GoWork on Tuesday said it has raised USD 53 million (around Rs 375 crore) debt funding from US-based BlackRock and CLSA Capital Partner to expand its business.

GoWork will use this funding to further scale the business and provide value-added services to its clients. The company currently has two coworking centres at Gurugram in Haryana, spread over 8 lakh square feet with a capacity of 12,000 seats.

"GoWork has raised USD 53 million from a private fund managed by BlackRock's Private Credit team, along with CLSA Capital Partners' Special Situations Group, in a round of debt funding," the Gurugram-based coworking firm said in a statement.

This is the first onshore private financing transaction in India by global investment management firm BlackRock, it added.

GoWork CEO & Chief Evangelist, Sudeep Singh said, with their (BlackRock and CLSA) support, GoWork can further propel its growth across the length and breadth of all emerging markets in India. It plans to have 50 centres across major cities of India by 2025.

As of June 30, 2019, BlackRock managed about USD 6.84 trillion in assets on behalf of investors worldwide.

CLSA Capital Partners is the alternative asset management business of CLSA, Asia's leading capital markets and investment group.

In India, coworking segment is growing at a rapid pace, driven by demand for quality office space from startups, small and medium enterprises and large corporates. This segment is already accounting for 15-20 per cent of the total office space leasing across major seven cities.

To recall, just last week an another Delhi/ NCR based co-working startup GoHive had raised ₹ 2.5 crore from investors to expand its operations. It currently has seven co-working centres in the national capital region.

Co-working Startup GoHive Raises ₹ 2.5 Cr from Investors to Expand its Operations

Co-working startup GoHive has raised ₹ 2.5 crore from investors to expand its operations. It currently has seven co-working centres in the national capital region.

"GoHive has raised ₹ 25 million in a pre-Series A round from seasoned angel investors to fuel its growth and expansion plans," a company statement said.

With this funding, GoHive said it aims to double its current size and reach 5,000 seats within a year, with presence in NCR, Bengaluru and Mumbai.

"The round has showcased investors' confidence in our business strategy and our initiative to make spaces more accessible and suitable to different business needs, empower young companies, and enable deeper business inclusion in the ecosystem," said GoHive Founder & CEO Mishu Ahluwalia said.

Co-working segment is gaining momentum in the country because of huge demand of quality office space from startups, small and medium enterprises and large corporates, which prefer flexible workplace with minimum hassles.

Already, co-working segment's share in total office space leasing has reached 15-20 per cent.

In May this year, GoHive launched its biggest hub at Udyog Vihar, Gurugram

Plus Offices Looking to Raise $5 million to Open More Co-working facilities in India

Coworking Space Is on the upswing not only in Gurgaon but in other parts of the country.

Plus Offices is one of the late entrants in the market but they are one of the fastest growing coworking space in Gurgaon. Plus Offices is now eyeing a bigger pie of the cake in the co-working space. They provide customized productive shared work-spaces and tailor made services for entrepreneurs, freelancers, startups, mentors, consultants, small businesses and large enterprises. The offerings are varied in nature and can be tailor built for various customers according to their work demands.

Started in year 2018, Plus Offices has now expanded its coworking locations in Sector 44 and Sector 67, Gurgaon. With an increase in demand for more coworking office spaces, Plus Offices is now looking to raise funds for expansion in the coworking space domain both in Gurgaon, Delhi & NCR and finally to various parts of the country.

Mr Ravi Kikan, who has been a startup specialist and has had multiple exposures in the startup ecosystem is currently leading Plus Offices in India as a Chief Operating Officer and as part of the founding team based out of Gurgaon. He says " We are looking at building Plus Offices as productive Coworking Space in Gurgaon and hope to become one of the key players in this category by 2019-20, we have aggressive plans across India" . He also added that " Startups, Growth bound ventures, SMBs and Corporates all need coworking and productive workspaces beyond the regular brick and mortar offering which everyone has. To be a differentiator we are planning to help our coworkers in growth and expansion without any hassle or additional pinch on pricing"

Mr Ravi Kikan also runs Startup Specialists Community on LinkedIn https://www.linkedin.com/groups/56766/ which has around 300,000+ global members who are startups, mentors, entrepreneurs, consultants and startup lovers from across the globe. He added " Our bigger objective will be to create a big, vibrant, productive and useful community of startups, growth ventures and SMBs who can co create, collaborate and look at Coworking beyond the regular hot desking and stylish infra structure"

Plus Offices was initially funded through family and friends and some Angel investors from Delhi and NCR. After the first seed round they got into strategic alliances with a couple of real estate players to work as an operating partner to build and expand Coworking Work Space in Gurgaon.

The business has ambitious growth plans, particularly since the opening of its second coworking facility at sector 67, Gurgaon. The current estimated Coworker strength is around 1000+ coworkers at both the Coworking facilities in Gurgaon which is bound to increase to around 3000+ by this year end in both the facilities.

Looking at the bigger opportunity in the Coworking Space domain, Plus Offices is now looking at raising around $5 million to be fueled into growth planning and expansion into new regions in India and building bigger and better collaborative coworking spaces to help Startups and SMBs at large.

Plus Offices provides unique amenities which a class coworking facility would have including wifi, storage, ample parking, shuttle services, a café where members can purchase healthy food items, a lounge and event spaces, complimentary coffee and tea, recreational areas including a mentor program.

Plus Offices has built a relaxing environment where startups, SMBs, small business owners can connect with a network of resources and services that can help their business grow,” said Mr Ravi Kikan.

Mr Ravi Kikan also added "If you are a Entrepreneur, Consultant, Startup, SMB or Corporate who is waiting to expand or move into a newer or bigger or productive facility, we would love to connect with you and host you at Plus Offices. The whole objective is to bring a great experience for the Coworker who is working at our Plus Offices facility so that he or she is more productive and enjoys his focus on work"

Plus Offices provides not only shared amenities and resources, but also a sense of community, networking, and idea exchange among other things. Besides this, Plus Offices was started with an agenda to encourage the startups and women entrepreneurs by offering flexible membership agreements.

Coworking spaces, though a relatively new concept in India, has become a hot property with growth in the number of new startups in Gurgaon.

There are around 70+ Startups, 5 SMBs which are currently coworking with Plus Offices and the plan is to have around 500+ Startups and SMBs to be a part of Plus Offices in the Coworking Space in Gurgaon.The overall plan is to have around 20,000 Coworkers working out of various Coworking facilities of Plus offices in 2019-2020.

Co-living spaces Startup StayAbode Adds On to Pre Series A funding

StayAbode, a start-up that is building co-living spaces, has received an add on to pre Series A funding for an undisclosed amount from Voyage Group, Akatsuki and Incubate Fund.

StayAbode currently has 1200 beds live across 19+ properties in Bengaluru with a further 1000 beds contracted to go live in the next 6 months and is operating at 97% occupancy and has plans to expand to other cities in due course.

StayAbode recently tied up with CP Developers and is working on Asia’s largest A grade co-living project in India, with 1400 people living in a community environment, in the heart of Bengaluru’s Whitefield - a professional hub neighboring ITPL and large MNCs with a working population of over 50,000 millennials.

Viral Chhajer, Co-founder & CEO, StayAbode, says, “We are very excited to bring the Voyage Group on board as an investor. We have taken some interesting steps in the business after signing on our first greenfield development in Whitefield, while we continue to grow through our brownfield projects in Bangalore. With this top up on our pre-series A fundraise we’re going to grow our operating base and make key hires for the next phase of growth of the company.”

Tatsuya Hase, GM, Investment Division at Voyage Group, says, ‘We picked StayAbode, as our first investment in the Indian market as we believe co-living is the future of millennial living in India and we believe StayAbode is well placed to create great value in it and we are excited about the future of the company.”

Tomoya Ogawa, CFO at Akatsuki, Inc. and Managing Director of AET Fund, adds, “Looking at the past business growth led by Viral and his team, we are now even more confident that co-living is the future of living for millennials and Generation Z, and StayAbode will continue to lead and shape this exciting market. We look forward to continue supporting the team to enable and accelerate their growth story.”

Nao Murakami, General Partner at Incubate Fund India, further adds, ”Since we made an investment in August 2017, we have been closely working with StayAbode team. Our trust on promoters and sureness of their success has been reinforced over the last year. We, at Incubate Fund, are big believers of co-living as a real estate play and we think StayAbode would be one of the few winners of this rising model in India. So we made a follow-on investment on this round as well.”

StayAbode is using design, technology, service and brand to build co-living spaces for the rental residential market at scale. StayAbode’s co-living spaces support lifestyle of the young, single sociable household, enabling a high level of comfort, convenience and a sense of community with shared spaces such as kitchens, common areas, game areas, music, art corners and places to dine and work. Utility bills are paid, linen washed and one cooks only when one feels like along with daily housekeeping. It’s like living in a boutique hotel with a community of like-minded individuals. Through this way of living, StayAbode uses real-estate efficiently giving property owners upto 100% higher yield on their properties.

StayAbode was founded in 2016 by Viral Chhajer, Varun Bhalla and Devashish Dalmiya who have strong backgrounds in marketing, technology and finance. The company has raised angel funding followed by a pre-series A round of funding in July 2018 from a consortium of investors including Anupam Mittal, Vineet Sekhsaria, Lets Venture Legacy Global Projects MD Sanjay Shenoy and Mridul Upreti (ex Joint MD JLL India).

India's Largest Co-Working Space, Smartworks Opens its Second Center in Chennai

Smartworks, which claims to be India’s largest provider of managed workspaces, opens its second facility in the city of Chennai on Old Mahabalipuram Road (OMR), bringing its total footprint in India to over 1.2 million sq. ft. The facility at OMR, Chennai is spread across 85,180 sq. ft. with a seating capacity of 1500 seats. With this launch, Smartworks is taking its total number of centers in India to 15 across nine cities namely, Delhi, Gurugram, Noida, Kolkata, Bangalore, Mumbai, Pune, Hyderabad and Chennai.

Launched three months ago, Smartworks` first center in Chennai at Guindy was fully occupied by 10+ companies within two months on the back of strong pre-booking, owing to the increasing demand for shared workspaces in the city. Currently, Smartworks has brought on board several marquee clients, counting Tata Communications, Microsoft, Arcelor Mittal, Amazon,Carrier, Otis, Daikin, Lenovo, Bacardi, Swiggy, Rivigo and OLX among its 500+ strong client base.

Speaking of the launch in Chennai, Smartworks Founder, Neetish Sarda said, “We are excited to launch Smartworks’ second facility in Chennai, a city that is continuously witnessing a rise in demand for office spaces which indicates a healthy and thriving culture in the city. This is a huge accomplishment for us. Chennai is fast emerging as a destination for information technology, outsourcing, manufacturing and enterprises, that has led to entry of global firms here.”

He adds, “The facility in OMR complements our already functional Smartworks facility in Guindy was booked out 100% within two months of its launch which has led to the opening of this new facility in OMR. Smartworks aspires to be the preferred partner of choice for businesses here that wish to create productive, innovative and dynamic workplaces for their employees. We are bullish on the sector we operate in and see ourselves expanding very fast in the next 3 years, targeting 10 million sq. ft. We are also eyeing our presence in non-metro cities very soon.”



In its one of a kind collaboration, Smartworks is proud to announce its association with Episource, a U.S headquartered company with operations across India and the Philippines. In their recent expansion with Smartworks, they have occupied eight of the ten floors at OMR Centre, seating 1,400 of their new employees.

“The ease and flexibility with which Smartworks has helped us expand into this office has been commendable. We look forward to further embracing the unique culture and collaborative work environment Smartworks offers. It is exciting to see the array of facilities at our disposal, from visitor management and IT support to an assortment of recreational activities. Outsourcing our office management to co-working operators allows us to focus on our core competency— medical record review services.” says Sishir Reddy, CEO, Episource.



With millennials preferring to join companies like Episource that understand the importance of a work-life balance, Smartworks recognizes the importance of providing employers like Episource the ability to offer their employees an enriching environment to work in.

The OMR area of Chennai where Smartworks facility is located is the IT corridor of the city. The area also offers a good mix of residential and office complexes, contemporary structures, swanky eateries and a growing number of entertainment zones. OMR enjoys good road connectivity; proposed Metro will further boost the demand in the area. Smartworks’ facility has been designed with lively and welcoming interiors in informal seating, and the facility’s cafeteria, Smart Cafe, creates an ambience where members can relax and unwind before meetings and socialize or network with other member companies. The center also provides a state-of-the-art medical facility that takes care of employees’ healthcare.

Founded in April 2016, by Neetish Sarda and Harsh Binani, Smartworks is reinventing enterprise workspaces to boost employee productivity and to become the preferred workspace of choice for India's vibrant millennials. With demand for customized workspaces growing rapidly across Tier 1 & Tier 2 cities, Smartworks is targeting 10 million sq. ft. of managed office space over the next three years.

Smartworks claims to be India’s largest provider of tailor-made, flexible workspace, with a footprint of more than 1.2 million sq. ft. across 15 locations in 9 cities (Delhi NCR, Kolkata, Bangalore, Mumbai, Hyderabad, Chennai and Pune) catering to more than 500+ organizations across large enterprises, SMEs, start-ups, and freelancers. Founded in April 2016, Smartworks is reinventing enterprise workspaces to become the best workspace experience provider and the workspace of choice for India's vibrant young workforce.

Collaborative Co-Working Chain myHQ Raises $500K In A Funding Led By Anupam Mittal

Delhi headquartered myHQ, a unique collaborative coworking model in India has raised a funding of 5,00,000 USD in a round led by Anupam Mittal (Founder of People Group - Shaadi.com). The round also saw participation from Sachin Bhatia (Founder of TrulyMadly and MakeMyTrip), Nitish Mittersain (CEO & Founder of Nazara Tech), Singapore Angel Network, Outbox Ventures, GEMBA Capital and other angel investors from the online platform LetsVenture.

Interestingly, myHQ is Anupam Mittal's second investment in co-working space segment within a month, as he recently invested an undisclosed amount in StayAbode, a start-up that is building co-living spaces.

Being one of the fastest growing and innovative co-working start-ups in India, myHQ plans to utilize the funds in expanding to over 200+ spaces across 3 cities, strengthen its technology to provide a standardized and consistent work experience and to build a strong offline and online community.

Founded in 2016 by IIT Delhi alumnus Utkarsh Kawatra and Vinayak Agarawal, myHQ is disrupting the coworking market with its unique model. Unlike other co-working spaces in the market, myHQ is building a chain of collaborative work spaces by taking up curated spaces inside well designed cafes, lounges and offices. Whether it is a pub which is not operational during the day or a café which has unused inventory – myHQ exclusively focusses on such spaces and converts them into hassle-free work zones. myHQ already has a strong presence in Delhi/NCR with over 60 spaces and 4000+ community members using the spaces regularly.

myHQ with its subscription based model frees the user from all the hassles of a workspace: Free from deposit, free from monthly rental, free from commitment to any one work space. With a myHQ subscription, the users get access to myHQ spaces at all its location with lifetime validity and standardised work amenities such as high speed Wi-Fi, office stationery, free printing, optimal lighting and seating, and exclusive F&B offers.

Commenting on the development, Utkarsh Kawatra, Cofounder & CEO of myHQ, said, “Our expansion plans with this round of funding are totally in sync with our aim to provide plug-n-play and affordable workspaces in every neighbourhood. With the growing demand for coworking across the country, our asset light technology enabled approach sets us apart and ensures we are able to run operationally profitable centres in each neighbourhood while being the most economical solution in the market”

Talking about the investment, Anupam Mittal, Founder of People Group (Shaadi.com), said, “India is primarily an SME and freelance economy which is only going to accelerate in the coming years. The major coworking space players in India are geared more towards corporates and can be too expensive for the SME/freelancer market- On the supply side, India is a high rent retail market and so existing spaces like cafes, offices, hotels need to supplement their income. myHQ provides a neat, technology enabled way to do this”

Beyond proving a work space, myHQ also supports freelancers and SMEs by helping them grow their business. The myHQ mobile app provides the users a platform to manage their subscription, reserve spaces and network with other like-minded community members.

In addition, Outbox Ventures and Angad Pasricha of TCNS (/W for Women) were the initial investors in myHQ with a funding of 100,000 USD in July 2016.

Other Investments in Co-Working Space Segment

In April, Gurgaon-based co-working spaces startup, GoWork, also announced that it is targeting to invest $1 billion (~ Rs 6,500 crore) over the next five years in setting up its 50 shared offices across India.

Last September, popular co-working firm 91springboard raised $20 million from Sandway, Pearl Brook, AMA Holdings, Silo Holdings and Al Nour.

Last August, New York-based WeWork, the world's top co-working startup by valuation, starts building a core team to enter the National Capital Region and received whopping $4.4 billion investment from Japan’s SoftBank.

Earlier in July 2017, WeWork opened its first community workspace in India – ‘WeWork Galaxy”, in Bengaluru’. As per the Crunchbase website, WeWork has raised nearly $10 billion in funding since it was launched.

In June 2017, another co-working venture, BHIVE Workspace, raised $1.2 million from Blume Ventures and others.

Collaborative Co-Working Chain myHQ Raises $500K In A Funding Led By Anupam Mittal

Delhi headquartered myHQ, a unique collaborative coworking model in India has raised a funding of 5,00,000 USD in a round led by Anupam Mittal (Founder of People Group - Shaadi.com). The round also saw participation from Sachin Bhatia (Founder of TrulyMadly and MakeMyTrip), Nitish Mittersain (CEO & Founder of Nazara Tech), Singapore Angel Network, Outbox Ventures, GEMBA Capital and other angel investors from the online platform LetsVenture.

Interestingly, myHQ is Anupam Mittal's second investment in co-working space segment within a month, as he recently invested an undisclosed amount in StayAbode, a start-up that is building co-living spaces.

Being one of the fastest growing and innovative co-working start-ups in India, myHQ plans to utilize the funds in expanding to over 200+ spaces across 3 cities, strengthen its technology to provide a standardized and consistent work experience and to build a strong offline and online community.

Founded in 2016 by IIT Delhi alumnus Utkarsh Kawatra and Vinayak Agarawal, myHQ is disrupting the coworking market with its unique model. Unlike other co-working spaces in the market, myHQ is building a chain of collaborative work spaces by taking up curated spaces inside well designed cafes, lounges and offices. Whether it is a pub which is not operational during the day or a café which has unused inventory – myHQ exclusively focusses on such spaces and converts them into hassle-free work zones. myHQ already has a strong presence in Delhi/NCR with over 60 spaces and 4000+ community members using the spaces regularly.

myHQ with its subscription based model frees the user from all the hassles of a workspace: Free from deposit, free from monthly rental, free from commitment to any one work space. With a myHQ subscription, the users get access to myHQ spaces at all its location with lifetime validity and standardised work amenities such as high speed Wi-Fi, office stationery, free printing, optimal lighting and seating, and exclusive F&B offers.

Commenting on the development, Utkarsh Kawatra, Cofounder & CEO of myHQ, said, “Our expansion plans with this round of funding are totally in sync with our aim to provide plug-n-play and affordable workspaces in every neighbourhood. With the growing demand for coworking across the country, our asset light technology enabled approach sets us apart and ensures we are able to run operationally profitable centres in each neighbourhood while being the most economical solution in the market”

Talking about the investment, Anupam Mittal, Founder of People Group (Shaadi.com), said, “India is primarily an SME and freelance economy which is only going to accelerate in the coming years. The major coworking space players in India are geared more towards corporates and can be too expensive for the SME/freelancer market- On the supply side, India is a high rent retail market and so existing spaces like cafes, offices, hotels need to supplement their income. myHQ provides a neat, technology enabled way to do this”

Beyond proving a work space, myHQ also supports freelancers and SMEs by helping them grow their business. The myHQ mobile app provides the users a platform to manage their subscription, reserve spaces and network with other like-minded community members.

In addition, Outbox Ventures and Angad Pasricha of TCNS (/W for Women) were the initial investors in myHQ with a funding of 100,000 USD in July 2016.

Other Investments in Co-Working Space Segment

In April, Gurgaon-based co-working spaces startup, GoWork, also announced that it is targeting to invest $1 billion (~ Rs 6,500 crore) over the next five years in setting up its 50 shared offices across India.

Last September, popular co-working firm 91springboard raised $20 million from Sandway, Pearl Brook, AMA Holdings, Silo Holdings and Al Nour.

Last August, New York-based WeWork, the world's top co-working startup by valuation, starts building a core team to enter the National Capital Region and received whopping $4.4 billion investment from Japan’s SoftBank.

Earlier in July 2017, WeWork opened its first community workspace in India – ‘WeWork Galaxy”, in Bengaluru’. As per the Crunchbase website, WeWork has raised nearly $10 billion in funding since it was launched.

In June 2017, another co-working venture, BHIVE Workspace, raised $1.2 million from Blume Ventures and others.

Co-Working Spaces Startup GoWork To Pump $1 Bn To Open 50 Centres Across India

Gurgaon-based GoWork, a start-up that offers co-working spaces, plans to invest $1 billion (~ Rs 6,500 crore) over the next five years in setting up its 50 shared offices across India.

Owned by Nimitaya Group, GoWork's one centre in Delhi will come up by June while another one in Bengaluru will also come up by the end of this year. "We are in initial discussions with private equity players to raise funds," Sudeep Singh, chief evangelist, GoWork, said in a media statement.

The first GoWork first facility in Gurgaon is the largest is the world with 12,000 seats capacity, an area of 4.5 lakh sq feet and can house 8000 people. Located 100 metres away at Udyog Vihar Phase 2 in Gurgaon the second facility which today is the second largest facility in the world is 3.5 lakh square feet and can seat 5000 people.

GoWork, which offers co-working spaces to corporates, small and medium enterprises, start-ups and entrepreneurs, also plans to start a ‘Frustration Room’ in all its centres, which will help the professionals in managing their stress. One can go to the frustration room which will have sound-proof walls, and shout loudly or can just break things kept in the room to vent their anger or stress, Singh elaborated. As of now, the company plans to keep an old car for breaking with a hammer and safety gloves.

We are also in discussions with other firms to set up a creche facility in our centres, which will support working mothers as well as single parents, he said. GoWork already has Cox & Kings, Lifelong, Impactify, Flying Fur, WIP and Fixxoo as their clients. The start-up, which is in talks to raise $150-200 million with private equity firms this year, had raised its first round of funding from a family group Nimitaya Group.

GoWork operates on 80:20 model of ownership and leasing of spaces, and going forward, will maintain this, Singh said. The company wants to be present in every metro in the next five years apart from other cities and towns.

According to consultancy firm CBRE, the advent of co-working spaces is termed as the next wave of disruption in the office segment.

Co-working means shared office spaces with a new-age work environment. These centres have membership packages ranging from daily to yearly. It has private offices, fixed desks, flexible desks, virtual offices with all facilities of a hotel such as internet, gym, spa, cafes and common areas.

The above news was first reported in DNA.

The idea of co-working spaces has been gaining momentum in India. The total space leased by co-working operators in tier-I and tier-II cities is expected to reach almost 6-10 million square feet by 2020, as per CBRE.

In June 2017, the then Commerce and Industry Minister has had written a letter to all Members of Parliament (MPs) to consider setting up co-working spaces/incubators for Startups in their constituency under the Members of Parliament Local Area Development Scheme Fund (MPLADS), informed ministry in a press release on Wednesday.

Last August, New York-based WeWork, the world's top co-working startup by valuation, starts building a core team to enter the National Capital Region and received whopping $4.4 billion investment from Japan’s SoftBank. Earlier in July 2017, WeWork opened its first community workspace in India – ‘WeWork Galaxy”, in Bengaluru’. As per the Crunchbase website, WeWork has raised nearly $10 billion in funding since it was launched.

In the same month, Huddle, a co-working incubator launched its centre and resumed its services in Cyber City Gurugram.

Last July, Delhi-based co-working startup Gurukul has received an undisclosed amount of funding from Indian international cricketer Yuvraj Singh. In the same month an another c-working spaces startup iKeva launched its shared offices in Gurugram And Mumbai.

In October, Haryana state government had also announced to open an entrepreneur centre in Gurugram.

Prior to this, the state govt had also announced setting up of first Centre for Innovation and Entrepreneurship (CIE) in Gurugram under Haryana's new state startup policy.

Co-Working Spaces Startup GoWork To Pump $1 Bn To Open 50 Centres Across India

Gurgaon-based GoWork, a start-up that offers co-working spaces, plans to invest $1 billion (~ Rs 6,500 crore) over the next five years in setting up its 50 shared offices across India.

Owned by Nimitaya Group, GoWork's one centre in Delhi will come up by June while another one in Bengaluru will also come up by the end of this year. "We are in initial discussions with private equity players to raise funds," Sudeep Singh, chief evangelist, GoWork, said in a media statement.

The first GoWork first facility in Gurgaon is the largest is the world with 12,000 seats capacity, an area of 4.5 lakh sq feet and can house 8000 people. Located 100 metres away at Udyog Vihar Phase 2 in Gurgaon the second facility which today is the second largest facility in the world is 3.5 lakh square feet and can seat 5000 people.

GoWork, which offers co-working spaces to corporates, small and medium enterprises, start-ups and entrepreneurs, also plans to start a ‘Frustration Room’ in all its centres, which will help the professionals in managing their stress. One can go to the frustration room which will have sound-proof walls, and shout loudly or can just break things kept in the room to vent their anger or stress, Singh elaborated. As of now, the company plans to keep an old car for breaking with a hammer and safety gloves.

We are also in discussions with other firms to set up a creche facility in our centres, which will support working mothers as well as single parents, he said. GoWork already has Cox & Kings, Lifelong, Impactify, Flying Fur, WIP and Fixxoo as their clients. The start-up, which is in talks to raise $150-200 million with private equity firms this year, had raised its first round of funding from a family group Nimitaya Group.

GoWork operates on 80:20 model of ownership and leasing of spaces, and going forward, will maintain this, Singh said. The company wants to be present in every metro in the next five years apart from other cities and towns.

According to consultancy firm CBRE, the advent of co-working spaces is termed as the next wave of disruption in the office segment.

Co-working means shared office spaces with a new-age work environment. These centres have membership packages ranging from daily to yearly. It has private offices, fixed desks, flexible desks, virtual offices with all facilities of a hotel such as internet, gym, spa, cafes and common areas.

The above news was first reported in DNA.

The idea of co-working spaces has been gaining momentum in India. The total space leased by co-working operators in tier-I and tier-II cities is expected to reach almost 6-10 million square feet by 2020, as per CBRE.

In June 2017, the then Commerce and Industry Minister has had written a letter to all Members of Parliament (MPs) to consider setting up co-working spaces/incubators for Startups in their constituency under the Members of Parliament Local Area Development Scheme Fund (MPLADS), informed ministry in a press release on Wednesday.

Last August, New York-based WeWork, the world's top co-working startup by valuation, starts building a core team to enter the National Capital Region and received whopping $4.4 billion investment from Japan’s SoftBank. Earlier in July 2017, WeWork opened its first community workspace in India – ‘WeWork Galaxy”, in Bengaluru’. As per the Crunchbase website, WeWork has raised nearly $10 billion in funding since it was launched.

In the same month, Huddle, a co-working incubator launched its centre and resumed its services in Cyber City Gurugram.

Last July, Delhi-based co-working startup Gurukul has received an undisclosed amount of funding from Indian international cricketer Yuvraj Singh. In the same month an another c-working spaces startup iKeva launched its shared offices in Gurugram And Mumbai.

In October, Haryana state government had also announced to open an entrepreneur centre in Gurugram.

Prior to this, the state govt had also announced setting up of first Centre for Innovation and Entrepreneurship (CIE) in Gurugram under Haryana's new state startup policy.