Virtuzone leads million dollar seed fundraiser for tech startup Hotdesk
Virtuzone led a $ 1 million investment in Hotdesk, the on-demand workspace reservation platform that enables users to instantly find and reserve workspaces around the world, while enabling businesses to sublet their vacant offices.
UAE leader in start-up and business support services Virtuzone has invested as lead investor in a USD 1 million (AED 3.67 million) seed funding round in Hotdesk, the on-demand workspace reservation platform that allows users to find and book instantly. workspaces around the world.
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.
Through this significant investment, Virtuzone aims to provide more adaptable solutions to entrepreneurs and businesses, in order to meet the changing needs of a dynamic business environment that is becoming increasingly flexible and decentralized.
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.
George Hojeige, CEO of Virtuzone, said: “Investing in technologies like Hotdesk is essential to bring positive change and breakthrough progress 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 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.
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 is between offering the convenience of working from home, while 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.
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COMTEX_394290741 / 2773 / 2021-09-30T00: 55: 46