Total amount raised
$2.6 Million
Latest funding date
09/01/2020
Location
myHQ has successfully navigated through 5 funding rounds, attracting the attention of notable investors such as Google for Startups and LVX Ventures. The company has been acquired by ANAROCK, marking a significant milestone in its growth journey.
Keep reading to explore the intricacies of myHQ's fundraising journey and the investors backing this innovative platform.
What Is myHQ?
myHQ is a leading flexible workspace provider based in Delhi, India. The company operates over 300 spaces across 125+ locations, offering affordable workspaces to a diverse clientele.
Operating within the coworking and real estate industries, myHQ has a workforce of 101-250 employees. The company has been acquired by ANAROCK and has successfully raised funding over five rounds, attracting notable investors such as Google for Startups and LVX Ventures.
How Much Funding Has myHQ Raised?
- Angel Round
- Amount Raised: USD 100,000
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and establish initial workspaces.
- Seed Round
- Amount Raised: USD 500,000
- Date: November 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand workspace offerings and enhance service quality.
- Seed Round
- Amount Raised: USD 500,000
- Date: July 2018
- Lead Investors: Anupam Mittal
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enter new markets.
- Series A
- Amount Raised: USD 1,500,000
- Date: November 2019
- Lead Investors: India Quotient
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand to new cities, introduce new product offerings, and invest in technology infrastructure.
- Non-equity Assistance
- Amount Raised: Not publicly disclosed
- Date: September 2020
- Lead Investors: Google for Startups
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the growth and expansion of myHQ's flexible workspace solutions across India.
Total Amount Raised: USD 2,600,000. Current Valuation: Not publicly disclosed.
Key Investors
- Google for Startups
- Details: Google for Startups is an initiative by Google to support startups through resources, mentorship, and funding. It aims to help startups grow and succeed by leveraging Google's network and expertise.
- Investment Focus Areas: Technology, innovation, entrepreneurship.
- Notable Investments: myHQ.
- India Quotient
- Details: India Quotient is a venture capital firm that invests in early-stage startups with innovative business models. The firm focuses on companies that are asset-light and cater to growing market demands.
- Investment Focus Areas: Technology, consumer internet, financial services.
- Notable Investments: Lendingkart, ShareChat, myHQ.
- Anupam Mittal
- Details: Anupam Mittal is an angel investor and entrepreneur, known for founding Shaadi.com, a popular matrimonial website in India. He is also a prominent figure in the Indian startup ecosystem.
- Investment Focus Areas: Technology, consumer internet, media.
- Notable Investments: Ola, Druva, myHQ.
- RB Investments
- Details: RB Investments is a Singapore-based family office that invests in a diverse range of sectors. The firm focuses on providing growth capital to companies with strong potential.
- Investment Focus Areas: Technology, real estate, consumer goods.
- Notable Investments: myHQ.
- LetsVenture
- Details: LetsVenture is an online platform that connects startups with angel investors. It facilitates fundraising for early-stage startups and provides a network of investors and mentors.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: myHQ.
What's Next for myHQ?
myHQ is poised to capitalize on the growing demand for flexible workspaces by expanding to new cities and introducing innovative product offerings. The company aims to build a robust offline-online community, serving a diverse clientele from freelancers to large enterprises. This expansion presents a significant opportunity to capture a larger market share in India's coworking industry.
Future fundraising efforts are likely to be bolstered by the company's focus on technology and community building, attracting interest from venture capitalists and angel investors. However, myHQ will need to navigate challenges such as competition from other coworking providers and maintaining consistent quality across numerous locations.
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