Virtuzone Leads $ 1 Million Investment Cycle in Hotdesk to Bring Revolutionary On-Demand Workspace Solutions to Nomads and Businesses Around the World
- The Hotdesk team combines the talents of Delivery Hero, Rocket Internet, Google and Careem. Mohamed Khaled, Founder and CEO of Hotdesk, was recently involved as CFO in the listing of Swvl, the first $ 1.5 billion unicorn from the Middle East to be listed on the NASDAQ.
Dubai: UAE leader in start-up and business support services Virtuzone has invested as lead investor in US $ 1 million seed funding round (3.67 Million AED) in Hotdesk, the on-demand workspace reservation platform that allows users to instantly find and reserve workspaces worldwide.
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, Zayani Venture Capital.
Some of the leading angel investors who participated in the tour de table in their personal capacity include Youssef Salem, CFO of Swvl, whose experience is in investment banking as Executive Director of Moelis & Company and who has featured in Forbes 30 under 30 earlier this month; and Khaled AlFahim – who is a board member of the Abu Dhabi Chamber of Commerce, a board member of Black Lane in Berlin and a former board member of the Al Fahim group in Abu Dhabi which owns a portfolio of hotels and hospitality and are serial start-up investors.
Neil Petch, President and Co-Founder of Virtuzone, said: “Exploring innovative solutions that can advance entrepreneurship has always been one of our fundamental 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.
George Hojeige, CEO of Virtuzone, noted: “Investing in technologies like Hotdesk is essential to bring positive change and breakthrough advancements to the global startup community. In this time of economic recovery, we must help create opportunities for growth and enable entrepreneurs and SMEs to build a solid foundation for success. People want more freedom and flexibility in the way they work and do business. We believe that the global reach and wide range of options Hotdesk offers can help global startups, entrepreneurs and nomads enjoy all the benefits and infrastructure of a traditional office, with the added amenities of a versatile and agile work environment.
Hotdesk operates an assetless model where 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.
Mohamed Khaled, Founder and CEO of Hotdesk, said: “We are at a turning point in history, where work and workspaces are democratizing. 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. 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.
Mohamed Khaled was recently involved as CFO at Swvl in the first $ 1.5 billion Middle Eastern unicorn to be listed on NASDAQ through a business combination with an acquisition company Special Purpose (“SPAC”), and was part of the main de-SPAC transaction. execution team. Hotdesk has brought together leading talent from PwC, Delivery Hero, Rocket Internet, Google and Careem – all with the vision to revolutionize the way people work.
Hotdesk should appear in Lisbon, Portugal’s WebSummit next November.
Virtugroup is a Dubai-based holding company comprised of Virtuzone, which offers free zone and mainland business formation services; and Next Generation Equity, which offers a range of citizenship and residency investment programs. With over 100 employees speaking 30 languages, Virtuzone provides unbiased advice on setting up a business in the UAE while being an end-to-end solution provider for a multitude of business services, ranging from visas and business licenses accounting and branding. As the leading business start-up specialist in the UAE, Virtuzone takes the complexity out of starting a business so entrepreneurs can focus on what really matters to the success of their business. For more information visit www.vz.ae.
Hotdesk is an on-demand workspace platform that allows users to find and reserve workspaces anytime, anywhere, effortlessly. Hotdesk Technologies Middle East HQ Limited is a Dubai-based DIFC company founded in 2020. The platform currently hosts 3,000 rooms and areas across more than 300 workspaces in 55 cities across the EMEA region. You can visit the Hotdesk website at www.hotdesk.io and download the mobile app from the App Store and Play Store.
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