Qdesq – a branded workspaces platform, which aims to revolutionise the office workspace finding experience, has today announced that it has raised an undisclosed amount in its seed funding round.
The seed round was led by Anuraag Jaipuria, director of Jai Drinks; Ruchirans Jaipuria, director of Jaipuria Beverage and Food; and Rishi Kajaria, joint managing director of Kajaria Ceremics. Along with them, other angel investors have also participated in this round, including its existing investors Dheeraj Jain, Ankush Nijhawan, among others.
The newly raised funding will be used by the company to expand its business, marketing efforts and further enhance its technology.
Currently, Qdesq is operating in five cities – Delhi, Noida, Mumbai, Gurgaon and Bangalore. In those cities, the number of venues available on the platform is 227. On its platform, the company offers two types of occupancy – short term and long term.
The company, which is a marketplace for office workspaces, has also introduced business cafes, which are branded and organised work cafes for modern professionals, called QCafes.
In shot term occupancy, it offers meeting rooms, conference rooms, and workplaces on rent on daily basis whereas in long term occupancy, the company offers workplace on monthly basis. It also offers a virtual personal assistant, business concierge, and administration support desk on demand.
The company was founded in 2015 by Paras Arora and Lavesh Bhandari. Qdesq is a ready to move in office brand that creates delightful office occupancy experience. It brings standardisation in pricing, features and amenities. Its inventory consists of own branded and managed workspaces as well as verified third-party listings.
The platform was started a business by raising seed funding from a group of investors. The round was led by Dheeraj Jain of Redcliffe Capital. Other investors include Jagdish Kumar, former regional director – APAC, DuPont. The funding amount raised in its first round was spent on building the technology for the platform and on operations to get more unused inventory listed on the platform.
As per the company, the overall size of the industry for serviced and managed office space is estimated to be $1,300 million. Qdesq aims to disrupt this space by using technology and innovative platform.