The HyFlexTMworkspace provider is set to open 10 new centres in Bengaluru this year and will soon establish its presence in Hyderabad, Mumbai and Pune.
Mumbai, March 14, 2022: ClayWorks is in advanced talks with select Family Offices and Venture Capitalists as it completes its Series A round set at US$10 million. The investment will augment ClayWorks’ growth for 2022 as it plans to open 10 new centres and 40 ClayWorks Stations in Bengaluru by the end of this year. It will result in over 10,000 seats by ClayWorks in the tech hub alone. The company – known for its HyFlexTM, managed workspaces – will soon take its proprietary solutions to Hyderabad, Mumbai and Pune as well. These plans respond to the changes witnessed in the work culture during the pandemic. Companies are eager to adopt a hybrid work culture and realise the ‘future of work’ in their organisations.
The startup has disclosed that it has already received INR70 million (~US$ 1 million) as venture debt financing from Nisus Fincorp, the NBFC (non-banking financial company) arm of Nisus Finance. The capital is being utilised to open two new centres – in Koramangala and JP Nagar – in Bengaluru city within the first quarter and retire existing debt. “Clayworks is a high-growth enterprise with contemporary, differentiated solutions for coworking and hybrid workspaces.
Our capital will accentuate their business plan, expand their technological offerings under their HyFlexTM proprietary solution while expanding their CoCo (Company owned Company operated) and FoFo (Franchise owned Franchise operated) footprint pan India. Post Covid-19, Clayworks is well-positioned to gain market leadership with flex office spaces becoming the norm. Our venture debt solution is centric to such high-growth enterprises in meeting their short to medium-term capital requirements,” shares Amit Goenka, MD & CEO, Nisus Finance.
There is a huge demand for high-quality, flexible workspaces due to the ongoing pandemic, confirms Rahul Singh, co-founder and director, ClayWorks. “Companies are opting out of traditional, rigid lease models and switching to flexible leases in managed offices. We have signed up several top MNCs such as View Sonic and Ford in the last year and our new clients are keen on setting up their hybrid workspaces with us, which would result in over 10,000 seats by ClayWorks in Bengaluru alone.” Rahul’s vision for ClayWorks is anchored in his unique experience in real estate consulting and private equity investment, having held key leadership roles at Knight Frank India and Essel Finance.
Abhijith Shashidhar, co-founder and director, ClayWorks, further explains: “Covid has overturned the 9-to-6 corporate culture of working from a designated office. Employees now want flexible hours and location, work-life balance and strong work culture. Days of long commute are pretty much over now. Our hybrid workspace strategy makes working elastic because it includes three components, viz. work-from-office at ClayWorks centres, work-near-home at Clayworks Station, and work-from-home with Spotch.” Abhijith sees great potential for tech-based, hybrid solutions in workspaces. His passion for innovative solutions stems from his industry experience as a former real estate advisor and consultant to clients such as Mitsubishi Electric and his involvement with multiple tech-based platforms over the years.
ClayWorks’ HyFlexTM workspaces, which include private, managed offices as well as coworking spaces, are known for their award-winning sustainable and flexible designs. The startup is also the creator of the intuitive, patent-pending Spotch workstation for WFH teams and flex offices. ClayWorks currently operates four centres with one of its largest centres set in a three-acre campus in Bannerghatta road, Bengaluru. Clients have lauded ClayWorks for crafting climate-sensitive, sustainable offices that feature vernacular materials, optimise natural light and result in an enriching work environment. With sustainable, hybrid offices becoming the workplace of choice, ClayWorks is committed to offering its services in more locations in Bengaluru and extending the ClayWorks experience to companies in Hyderabad, Mumbai and Pune soon.
Corporate Comm India (CCI Newswire)
