Home Latest News Anarock buys 75% stake in coworking marketplace myHQ for Rs 125 crore 

Anarock buys 75% stake in coworking marketplace myHQ for Rs 125 crore 

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Real-estate consultant Anarock Group announced to acquire 75% stakes of myHQ in a cash and stock deal of around Rs 125 crores, to strengthen its flexible workspaces portfolio, an offical statement highlighted. 

myHQ, headquartered in Delhi-NCR, currently has over 50,000 subscribed members across 700+ spaces in 7 cities.

Anuj Puri, Chairman, ANAROCK Group, says, “Coming on the heels of ANAROCK introducing US-based Upflex Inc, a hybrid booking platform with the largest global network of flexible workspaces, to India, the myHQ acquisition will further strengthen our tech and product offerings and enhance our capabilities in this vertical. myHQ will spearhead our expansion into 20+ cities. This gives us nationwide coverage in the flexible workspaces domain, and we will tap into overseas markets in the next 12 months.”      

Post-acquisition, myHQ will retain its distinct brand and independence. Utkarsh Kawatra and Vinayak Agarawal, both IIT-Delhi graduates who founded myHQ in 2016 will remain on board as founding partners and are enthusiastic about firm’s next innings under ANAROCK banner.

Utkarsh Kawatra, CEO – myHQ added into this and said,  “We’re thrilled to be a part of ANAROCK, one of the biggest and most trusted real estate services business in the country, to take myHQ to next level.It is a well-timed move with the right company given our shared enthusiasm around massive opportunity in this space. We can now accelerate innovation, amp up the team and enhance user experience through a combination of myHQ’s tech solutions, and ANAROCK Group’s business expertise and scale. The hybrid approach to workspaces is on the cusp of an explosion with all companies from startups to big Corporates looking to adopt some version of Work-From-Anywhere model. While today there is some depth of inventory in the metros, to make this model truly successful, tier-II & III cities will need to be the future growth multipliers for India’s flexible workspace ecosystem.”