Since its inception in 2016, myHQ, the Delhi-NCR headquartered coworking space provider, has achieved remarkable milestones. Offering workspaces across 120+ locations in the region, the company has effectively utilized excess inventory in restaurants, cafes, co-working centers, and office complexes.
myHQ also secured $1.5 Mn in Pre-Series A funding led by India Quotient, along with contributions from Singapore-based family office RB Investments, Ashish Goenka from Suashish, angels from LetsVenture, and existing investors such as Anupam Mittal and Nitish Mittersian.
With the freshly acquired funds, myHQ plans to undertake ambitious expansion strategies. They aim to venture into new cities, introduce innovative product offerings, and strengthen their technology infrastructure. By the end of the following year, the company has set a goal to expand to over 300+ spaces in multiple cities, aiming to build a vibrant offline-online community of 50k+ working professionals across their workspaces.
myHQ Revolutionizes Co-working with Innovative Solution
In a unique approach, myHQ taps into unused inventory to cater to the untapped market of SMEs, freelancers, and mobile professionals, offering economical workspaces priced below 5000 INR.
The co-working space in India witnesses significant growth and increasing competition as real-estate players enter the market. myHQ’s strategic partnership with existing coworking spaces keeps it ahead in the game.
myHQ’s asset-light model thrives by utilizing surplus inventory, enabling cost-effective workspaces at just 200 INR/day. Its unique visit-based subscription eliminates monthly rentals, making it a standout choice for professionals on the move.
Technological Leap: Driving Growth and Efficiency
Over the years, myHQ has made substantial technological advancements, including centralized Wi-Fi, real-time reservations, and inventory management, enhancing the standardized work experience across its diverse spaces.
Leveraging their tech-powered systems, myHQ efficiently manages over 140 spaces with a lean team of just three members, allowing them to scale rapidly without compromising on service quality.
To bridge the physical gap between members working at different locations, myHQ’s mobile app plays a crucial role in building a thriving online community. Members connect, share business requirements, and find new clients within the myHQ ecosystem, fostering meaningful interactions.
Expansion Targets: Bangalore and Mumbai in the Spotlight
myHQ sets its immediate sights on expanding to Bangalore, followed by a move into the bustling city of Mumbai.
Anticipating the changing dynamics of the modern workforce, myHQ envisions a future where flexible workspaces become the go-to choice for millennial users. With advancements in technology enabling seamless connectivity and remote collaboration, the central office model loses its necessity, paving the way for agile, pocket-friendly, and professional workspaces. myHQ’s unique offerings cater to the evolving needs of individuals and small to medium enterprises, fostering a thriving flexible working community that empowers businesses to adapt and flourish in the dynamic landscape.
