Coworking startup myHQ has raised a funding of $ 500,000 in a round led by a clutch of angel investors along with Singapore Angel Network, Outbox Ventures, GEMBA Capital and LetsVenture. Startup entrepreneurs like Anupam Mittal, founder of Shaadi.com, Sachin Bhatia of MakeMyTrip, Nitish Mittersain of Nazara Tech have participated in the round.
myHQ plans to utilise the funds in expanding to more than 200 spaces across three cities and build a strong offline and online community of more than 10,000 members across all locations.
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. Therefore, the well constructed vacant cafes and lounges in the market give us the prospect to turn them into innovative co-working spaces during their off- peak hours, said Utkarsh Kawatra, co-founder of myHQ.
With the potential market size of Indian co-working spaces ranging from 12 to 16 million seats, myHQ gears to cater to the vast and untapped market of freelancers, startups, SMEs, etc. and provide them with a modern workspace with access to a strong community of like minded entrepreneurs and professionals.