MyCuteOffice raised seed funding

By | May 14, 2015

MyCuteOffice-Main Feature - 1stMyCuteOffice, India’s desk space and offices has raised seed funding from angel network Lead Angels. The company has raised an undisclosed amount of funding from Lead Angels.

MyCuteOffice is an aggregator for sharing vacant work desks, offices, studios and meeting facilities to help small businesses. They can save of office setup and rental costs, at the same businesses can rent space on hourly, daily or monthly basis. The company provide businesses more flexibility by offering space rentals.

Searching on MyCuteOffice for officer seekers is free; however the company generates its revenues from space providers for nominal of fee of 10% of the rental value. They assist in registration of offices in Mumbai for Rs. 1,000 as of now.

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Mumbai based MyCuteOffice was started in Jan 2015 by Abhishek Barari, Neelay Jain and Rahul Shelke. They got the idea of starting up office sharing when they were scouting for office, when they wanted to start digital publishing firm Qpeka, three years back. Abhishek and Rahul found out it were not easy to find office space for small business. Immediately they started working on new venture MyCuteOffice.

Abhishek Barari is co founder and Chief Executive Officer of the company. He has graduated in Bachelor of Commerce from Mithibai College and went on to do Chartered Accountancy from Institute of Chartered Accountants Of India in 2010.

He started working as Audit and Tax Assistant in Vasant Agre and Associates in 2007. Abhishek with the firm for 7 months and moved out in 2008 he joined Iyer Jain Khandelwal and Associates as Audit Assistant. In September 2008, he joined KPMG as Staff Accountant and moved on to become Senior Executive in January 2012. He worked with KPMG till July 2012 and founded Project Power of Pen in July 2012.

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In October 2012 he founded Qpeka Technologies P Ltd and he is the Managing Director of the company. He was responsible strategy development, team management, branding, establishing relationships across functional areas, raising capital, gathering traffic and content.

Rahul Shelke is co founder and Chief Technology Officer of MyCuteOffice. He has graduated in Bachelor of Engineering in Computer Engineering from Bharati Vidyapeeth in 2008. Rahul did his Masters of Technology in Computer Engineering from Veermata Jijabai Technological Institute in 2010.

Rahul started his career as Trainee software engineer in Blisstering Solutions in July 2010. He went to become software developer in 2011 in the company. Rahul left the company in 2012 and joined as senior software engineer in eMeasurematics in November 2012.He along with Abhishek and Neeraj founded Qpeka Technologies in April 2013.

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The company received an undisclosed amount as seed funding from Lead Angels. MyCuteOffice will use the funding for process building and experimentation in terms of market capturing exercises. According to Abhishek “Our focus is on supply rather than demand. We are looking to have around 5,000-7,000 listings on our portal by this year-end, so that we can offer at last 50,000 workstations.”

Sushanto Mitra, founder and Chief Executive Officer of the Lead Angels said “We are excited about MyCuteOffice as the market is large and disorganised and the team has the determination to grow this into a large business. Lead Angels is looking at ideas which try to solve a big problem.”

Amit Bose of Lead Angels said “MyCuteOffice is a disruptive business idea that provides a seamless and easy solution for small and temporary office seekers and office space owners.”

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For Lead Angels, investment in MyCuteOffice makes fifth investment till date. They had invested in MyLabYogi – Health Diagnostic Booking platform, Sensus Labs – Navigation Solution Startup and CarveNiche – Edutech Firm. The investment firm has rolled out in the cities of Mumbai, New Delhi, Ahmedabad and Hyderabad.

MyCuteOffice is termed as India’s AirBnb in office space segment. The company claims to have served 400 space seekers till date. Meanwhile, they are in advance talks with number of venture capitals such IDG Ventures, Nexus Venture Partners, Helion Venture Partners, Accel Partners and Bessemer Venture Partners for further funding.

The company has ambitious plans, they concentrating on Mumbai till July end, rollout their operations in Bengaluru and New Delhi by end of 2015. They are planning to further roll out their operations in tier II cities, once funding is completed. Along with these plans MyCuteOffice is rolling out mobile apps shortly.

Author: Venu V

i look for minute details, whatever i do. Avid reader, read lot of Hindu mythology, Technology and General news. Extreme foodie and like to taste new types of vegetarian food. Travel a lot, like to explore new places which are not explored by anyone. Participate in adventure sports like river rafting, grappling and hot air ballooning.