Hotdesk Raises $ 1 Million in Seed Funding – My Startup World
Dubai-based provider of transformative shared workspace offerings, Hotdesk today announced that it has raised $ 1 million in seed funding to transform the way people work. The company operates an asset-less model where it neither owns nor leases any of its workspaces but instead consolidates the scattered empty commercial real estate market on one platform.
The on-demand workspace reservation platform allows users to instantly find and reserve workspaces. Hotdesk’s platform offers several offerings – offices, meeting rooms and private offices by the hour, by the day, by the month or by the 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.
The million dollar fundraising round is led by Virtuzone, the largest incorporation provider for companies setting up offices in the region. AlZayani Investments, a leading real estate group with a significant commercial real estate footprint in Western Europe and North America, participated in the round through its venture capital arm ZVC (Zayani Venture Capital).
Mohamed Khaled, Founder and CEO of Hotdesk said: “We are at a turning point in history – where work and workspaces are democratized. Hybrid models are the future, and Hotdesk sits between 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.
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 Arab Emirates. united and abroad. With the capabilities that Hotdesk brings to the corporate market, it may very well become the Airbnb of workspaces.