Proptech Investor Gruhas Backs Coworking Startup Qdesq

Coworking space Qdesq secures an undisclosed amount of funding from proptech focussed venture capital (VC) firm Gruhas. 

Founded in 2015 by Lavesh Bhandari and Paras Arora, the startup offers tech-enabled  coworking spaces, private offices, and on-demand workspaces like meeting rooms, virtual offices and day passes.

Commenting on the rising demand for coworking office spaces, Gruhas’ cofounder Abhijeet Pai said, “Coworking and managed offices have seen a surge in demand post the pandemic.  Flexible and ready-to-move workspaces have become a way of life for corporates, small businesses, and startups alike.”

In addition to providing coworking spaces, Qdesq expanded its offerings in 2022 with the introduction of Qudify, an enterprise SaaS platform. Qudify aims to modernize and digitize businesses and workspaces through features such as QR-based visitor tracking, meeting room management, and a complaint resolution system.

The startup claims that since the launch the Qudify has helped it garner over 125 clients empowering 2,00,000 interactions of enterprise employees and visitors. With the new offering, Qdesq aims to grow 3x Year-on-Year. 

Since inception, Qdesq claims to have listed 4,300 centres on its platform across 100 cities in India. With a monthly run rate of 6,500 desk reservations, the company offers a range of services including coworking spaces, private offices, and flexible workspace solutions such as meeting rooms, virtual offices, and day passes.

The startup plans to use the funds to expand team and capabilities, thus fuelling growth and scale in both businesses.

In 2019, the startup secured an undisclosed amount of funding from JLL to grow the analytics capabilities of its technology platform. 

In India, other players in the coworking space include — WeWork, 91Springboard, Innov8, among others, of which both secured funding last year.

According to a Mordor Intelligence study, the current market size of coworking spaces in India is $1.78 Bn which is estimated to grow at 7% CAGR by 2028. 

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