Dubai’s Virtuzone Leads $ 1 Million Seed Fundraiser at Hotdesk
Start-up company Virtuzone has deployed funds as a lead investor in a $ 1 million funding round in Hotdesk, the on-demand workspace booking platform.
Hotdesk’s platform offers offices, meeting rooms and private offices by the hour, day, month or year. Proprietary technology creates an opportunity for companies with underutilized workspaces to sublet their vacant offices and generate additional revenue.
Hotdesk hosts range from coworking spaces, shared offices, hotel business centers and vacant furnished commercial office spaces, according to a statement.
Virtuzone is leading a $ 1 million seed fundraiser in Hotdesk, the on-demand workspace reservation platform. Read the full article here: https://t.co/aI3Io756lP #Virtuzone #Hot office #investment #Start #technology #capital risk #angel investors pic.twitter.com/PKcmGIOe8D
– #VIRTUZONE (@Virtuzone_UAE) September 28, 2021
The million dollar round is led by Virtuzone, while AlZayani Investments participated in the round through its venture capital arm, Zayani Venture Capital. Angel investors who participated in a personal capacity include Youssef Salem – CFO of Swvl; and Khaled AlFahim – board member of the Abu Dhabi Chamber of Commerce and Berlin Black Lane, and former member of the board of directors of the Al Fahim group in Abu Dhabi.
Hotdesk operates an asset-less model in which it neither owns nor leases any of its workspaces, but instead consolidates the dispersed empty commercial real estate market on one platform. Rolling out to date, the company has generated over $ 100,000 in gross bookings, over 10,000 booking hours, over 1.5,000 users and over 3,000 rooms and areas from over 300 hosts in 55 cities in the EMEA region.
Neil Petch, President and Co-Founder of Virtuzone, said: “Exploring innovative solutions that can advance entrepreneurship has always been one of our core goals. We see great potential in the workspace solutions Hotdesk brings, and these align with our goals of removing barriers to entrepreneurship and making it much easier to start up and do business in the Emirates. United Arabs and abroad. With the capabilities that Hotdesk brings to the corporate market, it may very well become the Airbnb of workspaces.
“We are at a turning point in history – where work and workspaces are democratizing,” adds Mohamed Khaled, Founder and CEO of Hotdesk. “Hybrid models are the future, and Hotdesk is between offering the convenience of working from home, yet being able to socialize, be equipped and without the intimidating experience of the corporate office.
Businesses got smarter and leaner after covid, and no one wants a 5-year unfurnished lease anymore. Plug-and-play scalable workspace solutions are the way to go. Our primary mission is to help people unleash their productivity and give our guests a chance to make better use of their unused commercial real estate assets. Virtuzone is an extremely strategic partner that positions us well to delve into the field of incorporations in Dubai and the region, with the number of business start-ups increasing more than ever.
Also read: Cover article: Why Virtuzone Executives Think Startups Need To Emulate The UAE For Long-Term Success