Gurgaon-based TOP Technologies Private Limited that runs a coworking platform The Office Pass raised funding from a group of individual investors. As per the company, the funds will be deployed in enhancing the platform and hiring technology & product talent. This investment has come within 2 months of their formal launch.
There has been a rapid increase in demand for coworking spaces and companies are trying different formats to meet this demand. The Office Pass (TOP), unlike most other coworking providers, is not a real estate company; it is a technology company that is solving a real estate problem. “We aspire to connect companies & professionals with high-quality office space within 5 km. Most office-goers waste precious time and money commuting to work. If they are able to work from high quality, yet affordable, office near-by, it will solve a big productivity problem for Indian companies.” says Aditya Verma, Founder & CEO of The Office Pass.
Finding an office is a major challenge for Micro, Small & Medium Enterprises (MSME) and freelancers due to their inability to get into a long lease and block money in security deposits. Many of them prefer working from home and cafes. These segments remain under the radar for most developers and owners who prefer to rent to large MNCs. The Office Pass aims to solve this problem by offering office space on flexible terms without the need for long leases or security deposits.
Arun Tadanki, former MD of Yahoo Southeast Asia & India, who led this round of investment in the company said, “The Office Pass is an exciting business model that can disrupt the commercial office leasing market. 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 space on monthly, daily or even hourly basis”.
Co-founded by 3 former employees of Makaan.com, Aditya Verma, Nikhil Madan and Sachin Gaur, TOP launched their operations with the first facility at Sohna Road, Gurgaon on 1st March this year. “We are pleasantly surprised by the traction and are on track to achieve full utilization of our first facility within 3 months of launch”, says Aditya Verma.
The Office Pass, part of TOP Technologies Private Limited, is a technology platform that connects companies & professionals to “ready to use” cool, economical and flexi co-working office space.
The company takes care of all expenses associated with opening and operating an office. Expenses such as security deposit, maintenance charges, lock-in period, furnishing & equipment, rental, electricity, WiFi, security, housekeeping etc are all clubbed into an “a small fee per seat”. This saves its customers valuable time and money, which can be used to improving the productivity of their business. The company also provides on-demand meeting and conference rooms through its platform.
For the 1st time in India, companies & professionals can take office space on MONTHLY, DAILY or HOURLY basis as required. Moreover, users pay only for the seat(s) they book. If team size expands, buy more seats and vice versa. So, one can “save money & enjoy flexibility” like never before. The “on-demand” nature of the service helps users expand instantly without burning a hole in their pocket.
For additional information
Contact: Nikhil Madan, Co-founder, The Office Pass (TOP) @ nikhil@www.theofficepass.com/toppings or +91 9891833008
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