Article
The fund raised will be used to strengthen CoSqrd hybrid workplace solution for teams
CoSqrd, the leading hybrid workplace platform in India, today announced it has secured an undisclosed amount in seed funding. The funding is led by Loyal VC, a Canada-based global venture fund with 220+ investments across 50+ countries. Funds will be primarily utilized to strengthen and accelerate its unified hybrid workplace solution - WorqFlexi.
Founder and CEO - Shyam Sundar Nagarajan with CoFounder and COO - Srivatsan Padmanabhan
CoSqrd has built a one-of-a-kind unified hybrid workplace platform aimed at helping teams to work and collaborate in-person from anywhere. CoSqrd customers include the SaaS unicorn Chargebee, Wingify, world-class fintech Branch International, edtech startup Kraftshala, IT services company Ignitho, Incubyte, NotionPress to name a few.
"CoSqrd outperformed great companies from around the world to earn this recent investment by Loyal VC," said Kamal Hassan, Managing Partner, Loyal VC."They have done an impressive job of building up partnerships India-wide to offer an innovative new real estate model to corporations. We are delighted to work with them, and to support them through our network of global mentors as they grow in India and beyond," Mr Hassan added.
Founded by Shyam Sundar Nagarajan and Srivatsan Padmanabhan in 2017, CoSqrd pioneered the concept of low-cost coworking desks with work cafes. CoSqrd currently offers 2000+ on-demand coworking spaces, meeting rooms and long-term offices across 40+ cities in India including a solid presence in Tier 2 & 3 towns. CoSqrd has curated these work and meeting spaces by partnering with over 250 coworking providers including WeWork, Cowrks, 91Springboard, AWFIS, Indiqube and OYO.
"In the post-pandemic world, office space needs have been radicalized. 'The Great Resignation' and 'Quiet Quitting' movements signaled the demand for healthier work-life balance. Employees no longer want to commute to office campuses. They want alternatives to beat isolation, productivity issues and other work-from-home challenges. With company support, employees want workspaces on the go that are outside of home but closer to home. They want flexible spaces to meet, collaborate and bond without returning-to-office. All this together has expedited the adoption of on-demand flexible coworking, meeting and hybrid workplaces, which we have been advocating since long," said Founder and CEO, Shyam Sundar Nagarajan, CoSqrd. He added, "CoSqrd is helping companies seamlessly transition to a hybrid workplace model with WorqFlexi, a unified hybrid workplace solution."
Congratulating on this significant milestones, R U Srinivas, Sr. VP, People Success, Chargebee, added, "In a post-Covid world that's still figuring out work models that keep employees at the heart of its success, CoSqrd has been a great partner in helping us adapt to the changing needs and demands of the people that contribute to our business's success. At Chargebee, we have been continuously developing an operating format that provides flexibility, convenience, and compliance — both for our people and the business. We have implemented what we call the Adaptive Workplace Model - a sustainable operating format that gives our people, who are spread over 22 cities in India, the fluidity to do their best work, while being adaptive to business needs and external environments. Our experience with CoSqrd, to that end, has been great from the beginning with a data-driven approach and extremely proactive support."
"CoSqrd made the whole process simple and convenient for us," said Vineet A, Executive General Manager, GAIN Credit. He added, "Providing our teams across India the flexibility to work near their home location and collaborate in person was crucial for employee experience and business. Working with CoSqrd, we set up on-demand collaboration hubs in Noida, Gurugram, and Bengaluru."
CoSqrd' innovative platform helps businesses and teams book a space of their choice and helps the management to provision, monitor and measure the outcome of their hybrid workplace strategy. The platform also offers Virtual Offices in select cities. CoSqrd has grown 100% month on month post pandemic. More than 80% of its booking comes from B2B teams for meeting spaces, offsites, in-person interactions and day offices for teams.
About CoSqrd
CoSqrd is a hybrid workplace platform. Workspaces can easily be booked online through the app or web – meeting rooms by the hour or a day and coworking desks for a day. CoSqrd also offers long-term office spaces in India and Virtual Office services.
About Loyal VC
Loyal VC is a global venture fund with 220+ investments across 50+ countries. The fund is designed to minimize systemic bias inherent in the investment process, unlocking greater returns. The Loyal Startup Index Fund has delivered strong returns since its launch in 2018, thanks to its collaborative, staged investment process, its network of over 500 global advisors, and its partnerships with the Founder Institute, the world's largest pre-seed accelerator, and INSEAD, rated the #1 non-US business school for unicorn founders by Pitchbook. Loyal's global start-up index fund is inclusive of a diverse, often mission-driven, group of entrepreneurs. To date, over 30% of the portfolio have a woman CEO, almost 30% are from emerging markets, and around 80% address one or more of the United Nations Sustainable Development Goals (UNSDGs). Learn more at: Loyal VC
Originally published in PRNewswire
