JLL venture fund to invest in Indian co-working operator
Gurugram, India-headquartered flexible workspace provider Qdesq has raised an undisclosed amount of funding from JLL Spark, a Silicon Valley–based venture capital arm of JLL.
This marks the fund’s first India-focused investment.
With the capital, Qdesq intends to invest in the analytics capabilities of its technology platform.
“Companies are no longer interested in inefficient leases with long lock-ins. Businesses are increasingly looking for the flexibility to easily expand or contract their footprint. With its comprehensive inventory of real-time availability of managed spaces, Qdesq can dramatically reduce the lead-time to occupancy for companies,” said Anuj Nangpal, Asia Pacific lead, JLL Spark.
Currently, Qdesq has about 2,200 centers, lists over 500,000 desks in near real-time, covering the top 35 Indian cities and has as a distribution channel for co-working operators such as WeWork, 91Springboard, AWFIS, Regus, Smartworks, Innov8 and Oyo.