Managed commercial real estate solutions provider Hanto Workspaces has secured seed funding of Rs 15 crore to support its business growth and expansion into key cities in India. Anurag Jain, the founder of KredX, along with other angel investors, led the investment in a combination of equity and debt. Over the next five years, Hanto plans to broaden its operations to additional metros and tier 2 cities, including Hyderabad and Pune, with the goal of generating over Rs 700 crore in revenue by 2028.
“Having sailed through two waves of COVID-19, we saw rapid growth in the last fiscal year 2021-23 owing to companies opting for flex spaces rather than the traditional office setup,” said Aashit Verma, Founder of Hanto Workspaces. “The amount raised will be used to expand the team and acquire new buildings. We also plan to double our revenue in FY 2023-24, given the strong demand for commercial real estate in the market,” said Verma.
Hanto offers a "pod" based model in the managed office spaces industry. This development combines office spaces, retail, food and beverage options, short-term stays, and rooftop gardens to form a connected world of premium commercial real estate solutions using IoT technology designed to meet the demands of today's consumers. The company has greatly utilized technology to run its operations and oversee security at its facilities.
Verma launched Hanto in 2019 to fill the void in the market for high-quality commercial real estate solutions across various industries. At present, most of Hanto's income, about 80%, is generated by large corporations, while 20% comes from retail customers.