GoFloaters, a Chennai-based hybrid workplace platform, has secured an undisclosed amount in seed funding. The funding is led by Loyal VC, a Canada-based global venture fund with over 220 investments in more than 50 countries.
The funds will be primarily utilised to strengthen and accelerate GoFloaters’ unified hybrid workplace solution - WorqFlexi, the company said in a press release.
Founded by Shyam Sundar Nagarajan and Srivatsan Padmanabhan in 2017, GoFloaters offers low-cost coworking desks with work cafes. It currently offers over 2,000 on-demand coworking spaces, meeting rooms and long-term offices across 40 plus cities including in Tier 2 and 3 towns. The company said it has curated these work and meeting spaces by partnering with over 250 coworking providers including WeWork, Cowrks, 91Springboard, AWFIS, Indiqube and OYO.
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“They (GoFloaters) 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,” Kamal Hassan, Managing Partner, Loyal VC, said in the release.
GoFloaters customers include the SaaS unicorn Chargebee, Wingify, fintech Branch International, edtech startup Kraftshala, IT services company Ignitho, Incubyte, and NotionPress, among others.
GoFloaters founder and CEO Shyam Sundar Nagarajan said in the post-pandemic world, office space needs have been radicalised and that ‘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,” he added.