Dubai-based workspace platform Hotdesk, has secured seed funding from Zayani Venture Capital (ZVC) - the tech and venture capital arm of Bahraini AlZayani Investments, one of the region’s largest conglomerates. The amount of the funding was not disclosed.
Founded in 2019 by Mohamed Khaled, Ali Shweki and Mohamed Elsarrag, Hotdesk enables freelancers and startups to book coworking spaces and shared offices in 55 cities in three clicks. It is creating a new market by introducing the shared economy to the office space market.
"Times for a global real-estate pivot are extremely rare, and things couldn't get more exciting. Striving to be the region's first decacorn, Hotdesk is focused on getting the right investors and partners on board that can add strategic value to the business on its way up,” said Mohamed Khaled, co-founder and CEO of Hotdesk.
This investment will be used to fuel the startup’s growth now that office supply has grown across the world.
"We are excited to announce the investment with Hotdesk that plays directly into our real-estate vertical worldwide. By creating a new way to manage unutilized commercial space, the Hotdesk team and concept stood out and the investment was only logical,” said Khalid AlZayani, managing director of Zayani Venture Capital.
AlZayani Investments has a real estate portfolio of commercial and residential properties spanning across the globe. It also represents the franchises for automotive giants in Bahrain like Rolls Royce, Ferrari, Maserati, Jaguar, Land Rover and BMW.
Hotdesk was among the first tech startups incorporated at the Dubai International Financial Centre (DIFC). The company has acquired talent from Careem, Uber, Swvl and Google and is expected to announce other investors who participated in its seed funding round soon.