Co-working start-up The Office Pass raises funds from PropTiger CEO Dhruv Agarwala
The co-working start-up The Office Pass to open two new centres in Gurugram early next year, followed by one in Noida
New Delhi: The Office Pass, a co-working start-up, has raised funding from Dhruv Agarwala, the chief executive officer (CEO) of PropTiger and Housing.com, and some independent investors.
The venture was started by Aditya Verma, co-founder and former CEO of property listings site Makaan.com, which was acquired by PropTiger in 2015. He left the company in December 2016.
The Office Pass opened its first centre in Gurugram this March. In an interview with Mint, Verma said the pilot—a 65-seater co-working space —was hugely successful and established the proof of concept.
“Starting January, we would look to launch at least one-two facilities, with an average seating of about 250-300, every quarter,” Verma said. Two new centres will come up in Gurugram early next year, followed by one in Noida, he added.
Co-working centres—that allow professionals to share and enjoy the facilities of an office space – are the new fad with large corporates as well as start-ups. A dozen firms including Innov8 and 91springboard operate managed offices, while US-based WeWork, a large player globally, opened a massive centre in Bengaluru recently and plans to launch one in Mumbai.
Verma said The Office Pass differentiates itself by focussing more on professionals from small and medium enterprises and freelancers. The firm negotiates terms with property owners that require the latter to bear the cost of developing the facility.
“This allows us to be asset-light and gives the ability to scale rapidly,” Verma said.
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