Aiming to expand its footprint in metro cities like Mumbai and Bangalore, workspace rental platform Qdesq has raised an undisclosed amount of funding from a clutch of investors.
The round was led by Anuraag Jaipuria, the director of Jai Drinks Pvt Ltd, Ruchirans Jaipuria, the director of Jaipuria Beverage and Food Pvt Ltd and Rishi Kajaria, the joint managing director of Kajaria Ceremics Ltd.
The existing investors Dheeraj Jain, a partner at Redcliffe Capital, and entrepreneurs and angel investors Ankush Nijhawan, Gaurav Bhatnagar and Manish Dhingra also participated in the round.
Qdesq has raised its seed capital from a group of investors led by Dheeraj Jain of Redcliffe Capital, Jagdish Kumar, who is the former regional director at APAC, DuPont; Bharat Gupta, Ankush Saigal and Praveen Saini.
Paras Arora, the founder of Qdesq, said, “We are currently live with 216 venues across Delhi NCR in both the formats – short occupancy as well as long occupancy. With a current growth rate of 60% MOM on the revenue side, 20-25 Qdesq verified venues are appended to the list on supply side every month.”
“We aim to have 200 monthly bookings in on-demand business and 500 work desk under ongoing monthly occupation before our first year anniversary in December this year,” added Arora.
The company will use the funding for expansion and also plans to leverage the raised capital for marketing and enhancing its tech backbone.
Founded in December 2015 by Paras Arora and Lavesh Bhandari, Qdesq is driven by its passion and mission statement- Work near home but not at home.
“The need to find workspaces quickly and efficiently affects businesses of all sizes. Qdesq has done this job of building a solution for SMBs that leapfrogs the cumbersome methods that came before it. We are incredibly excited to be backing two terrific entrepreneurs and their amazing team, as Qdesq take the next step on their journey,” said Ruchirans Jaipuria.