Booqed, a Hong Kong-based platform for on-demand work spaces, raises $1.675 million in seed funding

Booqed, a Hong Kong-based platform for booking short-term work spaces, announced today that it has raised $1.675 million in seed funding. Participants included Colliers International, the commercial real-estate management company, Techstars and Lazard Korea.

The company participated in Proptech Accelerator, the Toronto-based accelerator program for property and real estate startups run by Colliers and Techstars, in 2018.

Launched in September 2016, Booqed currently has 1,600 listings for spaces in Hong Kong, Shenzhen and Singapore. It will use its seed round on product roll-outs, marketing and hiring. The platform differentiates from co-working spaces and companies like WeWork because its inventory consists of underused spaces in existing commercial properties, giving property owners and managers to way to make money instead of letting them sit empty.

Booking times can be as short as an hour or as long as several months, and listings include offices and meeting rooms, event spaces, retail stores and studios. Most of the startup’s customers are corporate clients that need to book venues or work spaces for traveling employees.