Nisus Finance to support ClayWorks in its Series A funding round set at US $ 10 m

Mumbai, India: ClayWorks is in advanced talks with select Family Offices and Venture Capitalists as it completes its Series A round set at US$10 million. A press release issued by the company says that the investment will augment ClayWorks’ growth for 2022 as it plans to open 10 new centres and 40 ClayWorks Stations in Bengaluru by the end of this year. It will result in over 10,000 seats by ClayWorks in the tech hub alone. The company – known for its HyFlex^TM, managed workspaces – will soon take its proprietary solutions to Hyderabad, Mumbai and Pune as well.

The start-up has disclosed that it has already received Rs 7 cr (~US$ 1 million) as venture debt financing from Nisus Fincorp, the NBFC (non-banking financial company) arm of Nisus Finance. The capital is being utilised to open two new centres – in Koramangala and JP Nagar – in Bengaluru city within the first quarter and retire existing debt.

“Clayworks is a high-growth enterprise with contemporary, differentiated solutions for coworking and hybrid workspaces. Our capital will accentuate their business plan, expand their technological offerings under their HyFlex^TM proprietary solution while expanding their CoCo (Company owned Company operated) and FoFo (Franchise owned Franchise operated) footprint pan India. Post Covid-19, Clayworks is well-positioned to gain market leadership with flex office spaces becoming the norm. Our venture debt solution is centric to such high-growth enterprises in meeting their short to medium-term capital requirements,” said Amit Goenka, MD & CEO, Nisus Finance.

Rahul Singh, co-founder and director, ClayWorks said, “Companies are opting out of traditional, rigid lease models and switching to flexible leases in managed offices. We have signed up several top MNCs such as View Sonic and Ford in the last year and our new clients are keen on setting up their hybrid workspaces with us, which would result in over 10,000 seats by ClayWorks in Bengaluru alone.”

Abhijith Shashidhar, co-founder and director, ClayWorks, further added, “Covid has overturned the 9-to-6 corporate culture of working from a designated office. Employees now want flexible hours and location, work-life balance and strong work culture. Days of long commute are pretty much over now. Our hybrid workspace strategy makes working elastic because it includes three components, viz. work-from-office at ClayWorks centres, work-near-home at Clayworks Station, and work-from-home with Spotch.”