An entrepreneurial journey begins with passion and an appetite for achievement. Even though the founder of a startup is willing to face challenges across the path, it can really turn out to be spending time all by oneself. This is the tipping point for draining of mental energy, which may even affect your work at some point. Co-working spaces have, therefore, caught the fancy of the young minds, who do not wish to slog through the journey alone.
Most office spaces in India are driven by long lease and high deposits. While there have been coworking spaces, some have not been able to customise the entire workspace solution to fit specific requirements.Eventually, the space seekers are still spending a lot of time in scouting for flexible workspace that match to their specific requirements. What if you are a young startup who needs 24/7 internet access, privacy for video conferencing, phone booth for customer calls, night café, or even IT infrastructure support.
This inspired Cosphere to create a platform for not only listing of shared spaces where members can find and book workspaces in flexible model, but also a single source of information about the space and its offering, so members can make an informed decision.
Gurgaon-based Cosphere was launched on 15th April, 2016. Founded by Ruchi Chaudhary and Arjun Ahlawat, it is a space aggregator that is committed to providing its customers an enabling facility and environment that saves them time and money, encourages productivity and facilitates connection with like-minded people. Cosphere offers an eclectic assimilation of offices and workspaces that provide an attractive, affordable and holistic experience for professionals who seek a comfortable environment and network.
Offerings & Amenities
- Marketplace to search and book flexible workspaces such as open spaces in coworking spaces, team offices, meeting rooms and event and training halls.
- Coworking consulting to space providers, enabling them monetise their unused and extra spaces.
- Meeting rooms by the hour in professionally managed and run venues.
- Coworking café’s (coworkbar), where users can use the café during the day as coworking café’s.
“There are about 20K startups in India right now employing 325K people. This is expected to grow to 100K startups with 3.25 Mn employees in the next 10 years. Alongside there is a big workforce of freelancer (15 Mn today), work-from home, foreign startups establishing India operations and SMB’s growing at a rate of 50% year-on-year”, says Ruchi.
Cosphere uses multiple channels to reach out to its audience, starting from marketing, strategic alliances and strategic consulting in coworking to SMBs and corporates.
Cosphere started with 20 unique and exclusive spaces in April. Today it has more than 80 spaces including coworking spaces, business centres, shared office spaces, hotels, cafes and other spaces across Delhi-NCR. Cosphere acts as a business provider to the space owners on a revenue share, along with ancillary revenue which is between 20-25% that comes from managed services and consulting.
The startup has raised an undisclosed amout of funding from angel investors and is gunning for 2000+ members and customers with at least 20% of that in the annuity business.
With other established players in the same domain like 91springboard, BHIVE, Innov8, Cosphere distinguishes itself by creating a platform which is driven by context, community and coalition. Their focus lies in smart integrations by addressing the major pain points for space occupiers.