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Hindustan Media Ventures leads seed round in virtual workspace provider Wurkr

Hindustan Media Ventures leads seed round in virtual workspace provider Wurkr
Photo Credit: 123RF.com
25 Feb, 2021

Wurkr, which provides virtual workspaces, has raised over £1 million (around $1.4 million or Rs 10.2 crore) in a seed round.

The round was led by Hindustan Media Ventures Ltd, the company behind Hindustan and other media brands, which invested £700,000.

As part of the round, the company also raised £188,000 from equity crowdfunding platform Seedrs, whose angel investor Yan van de Velde accounted for £100,000 of that sum. 

As part of the round, Van de Velde also committed a further £100,000, and Wurkr exercised a convertible loan note.

Wurkr, set up in 2018 by Annil Chandel, claims it has over 88,000 subscribers and 2,400 organisations using its product in the UK and Indian markets. The firm is based in the United Kingdom and India.

At least a handful of companies seeking to tap into the remote work trend have raised funding.

Earlier today, for example, hybrid and virtual events platform Hubilo raised $23.5 million (about Rs 170 crore) in a Series A funding round led by Lightspeed Venture Partners and London-based Balderton Capital. It had raised $4.5 million (about Rs 32.5 crore) in October last year in a seed round led by Lightspeed, with participation from a clutch of angel investors.

In September last year, Airmeet raised $12 million (Rs 88 crore) in Series A round led by Sequoia Capital India and Redpoint Ventures. Existing investors Accel, Venture Highway and Global Founders Capital also participated in the round.

Note: Hindustan Media Ventures Ltd is part of the HT Media Group, which owns Mosaic Digital, the company behind brands including VCCircle and TechCircle.