Total amount raised
$2.6 Millions
Latest funding date
09/01/2020
Location
myHQ has successfully raised funds through various rounds, with its last funding type being non-equity assistance. The company has attracted a diverse group of investors, including Google for Startups and LetsVenture.
myHQ's innovative approach to flexible workspace solutions has garnered significant attention and investment. Keep reading to explore the intricacies of myHQ's fundraising journey and the investors backing this dynamic platform.
What Is myHQ?
myHQ, founded on February 24, 2016, is a leading provider of flexible workspace solutions based in Delhi, India. The company was established by Utkarsh Kawatra and Vinayak Agarawal.
Operating over 300 spaces in more than 125 locations across India, myHQ caters to businesses of all sizes, including startups, mid-sized businesses, and freelancers. The company employs between 101-250 people and offers a range of services such as coworking spaces, managed offices, virtual offices, and meeting rooms.
How Much Funding Has myHQ Raised?
- Angel Round
- Amount Raised: $100K
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and establish initial workspace offerings.
- Seed Round
- Amount Raised: $500K
- Date: November 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand workspace locations and enhance service offerings.
- Seed Round
- Amount Raised: $500K
- Date: July 2018
- Lead Investors: Anupam Mittal
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market presence.
- Series A
- Amount Raised: $1.5M
- 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 ongoing operations and further expand workspace solutions.
Total Amount Raised: $2.6M
Current Valuation: Not publicly disclosed
Key Investors
- Google for Startups
- Details: Google for Startups is a global initiative by Google to support startups through various programs, resources, and partnerships. It aims to help startups grow and scale by providing access to Google's network and expertise.
- Investment Focus Areas: Technology, innovation, scalable business models
- Notable Investments: Not publicly disclosed
- India Quotient
- Details: India Quotient is a venture capital firm that invests in early-stage startups in India. The firm focuses on innovative business models that have the potential to scale rapidly.
- Investment Focus Areas: Consumer internet, SaaS, fintech
- Notable Investments: ShareChat, Lendingkart, Sugar Cosmetics
- Anupam Mittal
- Details: Anupam Mittal is an individual investor known for his investments in various startups. He is also the founder of Shaadi.com, a popular matrimonial website in India.
- Investment Focus Areas: Technology, consumer internet, media
- Notable Investments: Shaadi.com, Ola, Mauj Mobile
- RB Investments
- Details: RB Investments is a Singapore-based family office that typically invests in growth-stage companies. The firm has a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, real estate, consumer goods
- Notable Investments: Swiggy, Byju's, UrbanClap
- Angels from LetsVenture
- Details: LetsVenture is an online platform for angel investors to discover and invest in early-stage startups. The platform also provides mentorship and networking opportunities for startups.
- Investment Focus Areas: Early-stage startups across various sectors
- Notable Investments: Dunzo, Trell, Khatabook
What's Next for myHQ?
myHQ is poised for significant growth as it expands into new cities and introduces innovative product offerings. The company's asset-light model and focus on technology infrastructure position it well to capture a large share of the growing demand for flexible workspaces in India. This expansion presents a substantial opportunity to serve a diverse clientele, from freelancers to large enterprises.
Future fundraising rounds are likely as myHQ scales its operations and demonstrates profitability. The company could attract more investors and potentially form strategic partnerships to enhance its market reach. However, challenges such as competition and maintaining service quality across multiple locations will need to be navigated carefully.
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