A UK and India-based SaaS platform which enables teams to work together from anywhere in an immersive virtual workspace has raised more than £1 million in seed funding.
‘Office in the cloud’ firm Wurkr has been backed with £700,000 from Hindustan Media Ventures, one of India’s largest media companies.
An additional £188,000 was raised through equity crowdfunding platform Seedrs, where Wurkr beat its original funding target by 25 per cent with over 200 investors taking part.
Angel investor Yan van de Velde committed £100,000 as part of the Seedrs lead investment round, and an additional £100,000.
Wurkr also exercised a Convertible Loan Note to secure further cashflow.
Since its launch in 2018, Wurkr has expanded in the UK and Indian markets, with 88,000 subscribers and 2,400 organisations now using its product. Its subscriber base has seen a 1,000 per cent increase in the past year alone.
Wurkr’s virtual workplace management platform replicates a physical office environment in the cloud, backed by video technology. It says the solution is unique as it solves the productivity and isolation constraints associated with traditional ‘remote’ working models, allowing distributed teams to work together in a fully engaged and collaborative way.
“We’re delighted with the outcome of our fundraising efforts,” said CEO and founder Annil Chandel.
“Wurkr is emerging as a start-up success story, as we worked to expand during the pandemic crisis in an economically challenging landscape.
“Since our launch, we were able to develop the business without government grants, and this seed funding round helps to position us strongly for the next phase of our growth strategy.
“The incredibly high calibre of our investors is testament to the very real and needed solution that Wurkr’s platform brings to the market.”
Anirudh Singhal, head of strategic investment at HMVL, added: “We are delighted to lead the seed funding round of Wurkr.
“I believe Wurkr is a revolutionary platform that will change the way in which we operate. It will help companies rationalise their cost structure and yet allow employees to collaborate seamlessly and freely from anywhere.
“We are excited to partner with the company in its growth journey.”