Gurgaon-based Top Technologies Pvt. Ltd, which owns and operates a co-working place named The Office Pass, has raised $245,000 (Rs 1.5 crore) in seed funding from a group of investors led by Arun Tadanki, former MD of Yahoo Southeast Asia and India.
The company will use the new capital to improve its platform and hire technology and product talent.
Arun says, “The founders have the right domain expertise and they have been focused on building a scalable, capital-light business model where users can book office spaces on monthly, daily or even hourly basis.”
The Office Pass is a technology platform that connects freelancers and micro small and medium enterprises with office spaces nearby. The co-working startup manages an enterprise’s expenditures related to the security deposit, lock-in period, furnishing and equipment, maintenance charges, rental, electricity, security, housekeeping, WiFi and others. It also offers on-demand meeting and conference rooms through its platform.
Formaer Makaan executives, Verma, Nikhil Madan and Sachin Gaur established the co-working platform, The Office Pass.
“We aspire to connect companies and professionals with high-quality office spaces within five kilometres. If they are able to work from a high quality, yet affordable, office nearby, it will solve a big productivity problem for Indian companies,” Verma said.
The co-working space has two prominent business models. One is wherein a startup either leases or buys an office space and takes care of the operations, and second, where a co-working startup changes areas within restaurants, cafes and other public spaces into an office. While startups such as 91Springboard, Innov8, InstaOffice, and CoLife follow the first model, others such as myHQ follow the second.