Wednesday, 18 July 2018
News

Co-working startup ClayWorks Spaces gets $250,000

Bengaluru based co-working startup ClayWork Spaces Technologies Pvt. Ltd bags $250,000 from Nisus Finance, which recently set up its non-banking financial company (NBFC) named Nisus Fincorp,

ClayWorks plans to use the capital to expand its operations and open two new centers in Bengaluru. With the two new centers, ClayWorks’ total seating capacity will cross 1,000 within this financial year.

ClayWorks will use the capital to operationalize its new boutique shared office space located off MG Road in Bengaluru and to open two new centers in Koramangala and Bannerghatta Road.

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Nisus Finance plans to invest in other high-growth startups and early-stage firms through its new NBFC also this year.

“It is our endeavor to support enterprises with strong management, fantastic execution skills, and a clear business plan, to meet their order book requirements and bridge their cash flow mismatches through our capital engagement,” Amit Goenka, managing director and chief executive officer of Nisus Financial Plans said in the statement.

ClayWorks Spaces Technologies offers landowners and entrepreneurs office spaces, where they can also partner with the firm, the company’s website states. The company claims that it opened its first center at JP Nagar in Bengaluru comprising nearly 90 seats, which saw 100% capacity within the first three months.

“There is a huge un-catered demand for co-working spaces from young firms and startups, especially in the financial services, consulting and technology development spaces, which need a more structured yet non-imposing environment,” Rahul Singh co-founder of ClayWork Spaces said in the statement.

“Our centers are in high demand since they are not huge, create a sense of belonging with its earthy design and atmosphere, and are strategically located. Both, the young entrepreneurs as well as those starting mid-career innings work very well here, without having to pay top dollars for the larger formats,” he added.

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